The Indo-US Trade Policy Forum will be held on January 11 in Washington
The TPF has five discussion groups: Agriculture, Investment, Innovation and Creativity (Intellectual Property Rights), Services, Tariff and Non-Tariff Barriers. The meeting will be co-chaired by Commerce and Industry Minister Piyush Goyal and US Trade Representative Catherine Tay.
The India-US Trade Policy Forum (TPF), a forum to address trade and investment issues between the two countries, will hold a meeting in Washington on January 11, the ministry said on Sunday. Trade.
The TPF has five discussion groups: Agriculture, Investment, Innovation and Creativity (Intellectual Property Rights), Services, Tariff and Non-Tariff Barriers. The meeting will be co-chaired by Commerce and Industry Minister Piyush Goyal and US Trade Representative Catherine Tay. Goyal will be on an official visit to New York and Washington from January 9-11, the ministry said.
The 12th meeting of TPF was held here on November 23, 2021 after a gap of four years. “After the last meeting of the ministers, the working groups were reactivated. The TPF is a platform to continue trade cooperation between the two countries and deepen trade and investment relations between the two countries. there is progress on trade issues,” the ministry said.
The meeting was postponed in early November last year due to local elections in both countries. In last year’s meeting, India had called for the restoration of GSP (Generalized System of Preferences) benefits for Indian exporters, and the US side said it could be considered.
To further promote trade, the two sides expressed their intention to continue working together to resolve outstanding trade issues, some of which require further engagement to achieve convergence in the near future.
Bilateral trade between the countries increased from $80.5 billion in 2020-21 to $119.5 billion in 2021-22. India received $55.61 billion in foreign direct investment from the US between April 2000 and June 2022.
During the first leg of the visit, Goyal will interact with CEOs of prominent multinational companies, participate in panel discussions with business leaders and think tanks, and visit industries in New York.
The two countries also cooperate under QUAD (Quaternary Security Dialogue), I2U2 (India-Israel/UAE-US) and IPEF (Indo-Pacific Economic Framework). I2U2, which includes India, Israel, the United Arab Emirates and the United States, was established in October 2021.
(Edited by: Asmita pants)
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