Reaffirming India-US Trade Policies

By siliconindia   |   Wednesday, 17 August 2022, 00:12 IST
cmt right
Comment Right
cmt right
cmt right
Printer Print Email Email
Reaffirming India-US Trade Policies

Holding firm grounds in the India-US trade sector, Joe Biden, the president of America, believes that reaffirming this relationship can assure a head-straight trading economy between both nations, making them powerful in the economic sectors

Joe Biden, the president of America, believes that a soothing relationship between the US and India is essential for global peace, stability, and economic resilience as their combined effort can hammer out tough situations. As per the sources, Katherine Tai, US Trade Representative (USTR), opened up Biden’s opinion on the relationship between the two democratic nations at India House in a reception hosted on account of India’s independence day. Meanwhile, the negotiator spoke highly of India’s vibrant culture and its hospitality, which can rarely be mimicked.

Both India and the US face challenges head-on together and resolve them despite their differences in opinion, which exist rarely. Hence, Tai expressed her satisfaction with the commitment of leaders from both nations to the collaborative approach. Though the trade issues are the trickier baskets of bilateral issues, they were addressed on a positive note owing to the increasing growth of bilateral trade in goods and services. The previous year's total of 160 million USD attests to this rapid rise. This collaboration has also managed to resolve several tough issues, unlike in the past. Further, Tai expressed her interest in including Piyush Goyal, India’s minister of commerce, in the re-launching of the India-US trade policy forum.

Tai is all set to attend the TPF meeting in 2022 and said that she is elated over India’s participation in several elements of the President's initiative for a refined Indo-Pacific framework. Senior members of Biden’s administration like Dr Ashish Jha, Dr Rahul Gupta, Brian McKean, Frank Kendall, and Christopher W Grady joined Tai during her speech. Alongside, Astronaut and Deputy Administrator NASA Administrator Pamela Melroy and Deputy Administrator for Policy and Programming at USAID Isabel Holman also attended the reception conducted on the occasion of India’s Independence Day celebration, along with several other significant people. Adeyemo, Deputy Secretary of the Treasury Department, expressed his excitement over the indispensable partnership that has been built between India and the US for the past 75 years and might go on for many more years.

The US's ninth largest trade partner, India, holds firm ground in the trade relationship between both nations. Hence, several miracles are expected to take place in the upcoming years, with the trade relationship not only enhancing trade between the nations but also promoting principles including respect for the rule of law, shared rules of the road, and high standards in priority sectors. As a result, the Biden administration is collaborating with New Delhi to bring a new dimension to the US-India Commercial Dialogue while also aligning it with current bilateral policies.