Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

India and U.S. officials to look for ways to resolve trade issues

EconomyNov 22, 2021 21:17
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
4/4 © Reuters. India's Minister of Commerce and Industry, Piyush Goyal, presents a bouquet to U.S. Trade Representative Katherine Tai before the start of their meeting in New Delhi, India, November 22, 2021. REUTERS/Adnan Abidi/Pool 2/4

By Manoj Kumar

NEW DELHI (Reuters) -India and the United States agreed to look for ways to resolve differences on issues such as market access and digital trade at the start of a two-day visit by U.S. Trade Representative Katherine Tai, officials said.

Negotiators from both countries have struggled for more than a year to conclude a trade package as New Delhi and Washington spar over a range of issues, including tariffs.

Accompanied in New Delhi by her deputy Ambassador Sarah Bianchi, Tai raised market access restrictions, high tariffs, unpredictable regulations and restricted digital trade between the two countries.

"These are issues where we intent to make progress and they will be on the top of my list during the visit," Tai told Indian officials at a dinner hosted by Commerce Minister Piyush Goyal.

The meeting follows Prime Minister Narendra Modi's visit to Washington in September.

"We have been uniquely tasked by our leaders, PM Modi and President (Joe) Biden, to strengthen our economic ties and trade based on transparency and fairness," Goyal said at the dinner.

There was huge potential for growth in areas such as digital economy, health services and agriculture, Tai said.

Both countries have agreed to revive their Trade Policy Forum, after a gap of four years. The revived forum could help expand bilateral trade that has never seemed to live up to its potential, Tai said.

The officials agreed that the forum will help deepen the bilateral trade relationship by establishing regular contact to resolve obstacles, Tai's office said.

U.S.-Indian relations have grown steadily closer and both countries have joined with Japan and Australia in the so-called Quad group in an effort to push back against Chinese influence in the Indo-Pacific region.

India is also working on ways to release national reserves of crude oil in tandem with the United States and other major economies in response to a request from Biden, Reuters reported earlier, citing government sources.

An announcement could come as early as Tuesday, according to a source familiar with the discussions. White House and U.S. Energy Department officials said no official decision on a release had been made.

India and U.S. officials to look for ways to resolve trade issues
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email