Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Enhanced engagement discussed
Commerce Ministry officials on Friday met trade officials from the U.S. and discussed ways to improve trade relations been the two countries.
“A delegation led by Assistant United States Trade Representative (AUSTR) Christopher Wilson visited India on July 11-12 to explore potential for enhanced bilateral trade and economic engagement with India under the new Government,” the Ministry said in a statement. The U.S. delegation held bilateral talks on July 12 with the Indian delegation led by Sanjay Chadha, Additional Secretary, Department of Commerce. “The meeting aimed at providing new impetus to bilateral trade and commercial ties, in line with the mandate given by Prime Minister Narendra Modi and the U.S. President Donald Trump during their meeting at Osaka, Japan on June 28, 2019,” the statement added. “Both sides discussed the broad contours of bilateral trade and commercial ties and agreed to continue their discussions for achieving mutually beneficial outcomes aimed at further growing the economic relationship and addressing mutual trade concerns,” it said. The U.S.-India Strategic Partnership Forum (USISPF) estimated that U.S.-India bilateral trade will grow from $143 billion to $238 billion by 2025. This growth will occur if trade grows by 7.5% each year, as has been the trend for the last seven years, it added.
