The US will host the next round of Trade Policy Forum meeting with India here on October 29 in a bid to advance on-going bilateral efforts to expand trade and investment through forward-looking policy initiatives.
“The US-India Trade Policy Forum will allow the United States and India to advance on-going bilateral efforts to expand trade and investment through forward-looking policy initiatives that can benefit our manufacturers, workers, innovators, service providers, farmers, and ranchers,” the US Trade Representative (USTR) Michael Froman said on Friday.
Froman will meet Indian Commerce and Industry Minister Nirmala Sitharaman for ninth ministerial-level meeting of the US-India Trade Policy Forum on October 29. The TPF provides the venue for evaluating progress that has been made on trade and investment issues between the United States and India at the ministerial level, an official statement said.
“I look forward to hosting Minister Nirmala Sitharaman for a productive meeting about bringing our countries into greater trade partnership,” Froman said.
“This dialogue comes on the heels of President Barack Obama’s recent meeting with Prime Minister Narendra Modi where they discussed how partnership between the United States and India on trade and investment can contribute to new economic growth and job creation opportunities for our peoples,” he said.
Co-chaired by Froman and Sitharaman, US India Trade Policy Forum is the premier bilateral forum for the discussion and resolution of trade and investment issues between the two countries. Discussions in the TPF are generally organised around key issue areas, including intellectual property, opening investment in manufacturing, agriculture, and services. US goods and private services trade with India totaled USD 102.8 billion in 2014.
India is currently the United States’ 11th largest goods trading partner with USD 66.8 billion in total (two ways) goods trade during 2014. Trade in private services with India (exports and imports) totaled USD 36 billion in 2014.