Tuesday, July 16 2019

May 6, 2019

India and U.S. agreed to deepen economic cooperation and bilateral trade

India and the United States held the India-U.S. Bilateral Trade meeting in New Delhi. Both sides agreed to deepen economic cooperation and bilateral trade by ensuring greater cooperation amongst stakeholders, including Government,businessesand entrepreneurs.Suresh Prabhu, Minister of Commerce & Industry and Civil Aviation, Government of India and Mr. Wilbur Ross, Secretary of Commerce, United States of America co-chaired the bilateral meeting.

Both the co-chairs,Suresh Prabhuand Mr. Wilbur Rossappreciated the strong, robust and growing bilateral ties between India and the U.S. across the entire spectrum of trade and commerce. Both sides expressed satisfaction over the progress during the year 2018, with bilateral trade in Goods and Services registering a growth of 12.6% from $ 126 billion in 2017 to $142 billion in 2018.

India appreciated the USTrade Winds Indo-Pacific Business Forum and Missioninitiative 2019, being held at New Delhi. The forum will bring together distributors, representatives and partners and enable them to increase sales by taking part in business-to-business meetings from 8-10thMay, 2019, across India.

Both sides also discussed various outstanding trade issues.Both sidesagreed to engage regularly at various levels to resolve outstanding trade issues by exploring suitable solutions, which are mutually beneficial and promote economic development and prosperity in both countries.