India and US will hold trade dialogue on March 10 after a gap of 3 years

NEW DELHI: Hosted by India and the US commercial dialogue On March 10, they discussed issues related to trade and investment to further strengthen economic ties after a three-year hiatus, an official statement said on Monday.
last India-US Trade Dialogue Held in February 2019. Since then, it could not be held due to the pandemic and other factors.
“After a three-year hiatus, it is proposed to resume the dialogue with a strategic outlook, focusing on supply chain stability and diversification and new emerging industries,” the commerce ministry said in a statement.
US Commerce Secretary Gina Raimondo will be here from March 7-10 for a dialogue and meeting of the India-US CEO Forum.
“During the visit, the India-US Commercial Dialogue and CEO Forum will be held on March 10 to discuss cooperation in various sectors opening up new trade and investment opportunities between the two countries,” the statement said.
The Commercial Dialogue is a joint initiative involving regular government-to-government meetings held alongside private sector meetings to facilitate trade and maximize investment opportunities across a wide range of economic sectors.
Earlier, the India-US CEO Forum was launched in a soft manner by India’s commerce and industry minister. Piyush Goyal and the US Secretary of Commerce via video conference on November 9, 2022.
The key priorities identified are increasing supply chain stability, increasing energy security and; reduce overall greenhouse gas emissions, promote inclusive digital commerce; and facilitating post-pandemic economic recovery, especially for small businesses, he said.
India is the ninth largest trading partner for the US, and the US is India’s largest trading partner and largest export destination.
In 2022, bilateral trade turnover will exceed 131 billion dollars. Total trade in goods and services is expected to exceed $180 billion, the ministry added.
The US is also the third largest source of FDI for India, and the US is one of the top five investment destinations for India.
“This visit will greatly contribute to the further development of trade between the two countries,” the ministry said.
In April-January, the trade turnover between the two countries increased by 65.39 billion dollars compared to 62.27 billion dollars a year ago.
India received nearly $5 billion in foreign direct investment (FDI) from the US during April-December 2022-23.

Leave a Reply

Your email address will not be published. Required fields are marked *