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India, US officials hold talks, discuss trade issues to strengthen bilateral ties

Talks For A Trade Package Between The Two Countries Slowed After The US Rolled Back Export Incentives For India Under Their Generalised System Of Preference Programme With Effect From June 5.

PTI | Updated on: 12 Jul 2019, 08:21:50 PM
India, US flags (File Photo)

New Delhi:

Senior officials from India and the US held detailed discussions Friday on various trade and economic issues to strengthen bilateral relations, an official said. A team led by Assistant US Trade Representative (AUSTR) for South and Central Asia, Christopher Wilson, was here for the meeting with senior officials of the commerce and industry ministry, the official added. The US team also met Commerce and Industry Minister Piyush Goyal.

"Met the US Trade Representative team today to strengthen India-US trade ties. We deliberated on several issues to take our deep, historic and strong trade relationship to the next level," Goyal said in a tweet.

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This was the first deliberations at official level on trade issues after the meeting of Prime Minister Narendra Modi with the US President in Japan, on the sidelines of the G20 summit in Osaka in June.

Talks for a trade package between the two countries slowed after the US rolled back export incentives for India under their generalised system of preference programme with effect from June 5.

From June 16, India imposed high customs duties on 28 US products in retaliation to customs duties imposed by America on certain steel and aluminium products. There are certain irritants which both the countries want to sort out to push the bilateral trade.

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The US wants greater market access for its dairy products and cut in customs duties in information and communications technology products. The American companies have also raised concerns over price cap on certain medical devices by India.

Stating that the US has taken a 'unilateral position' in rolling back export incentives from India, the government has asserted that it would not allow trade negotiations to overtake issues of national interest.

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First Published : 12 Jul 2019, 08:21:50 PM