President Donald Trump meets with Prime Minister Narendra Modi at the United Nations General Assembly, in New York. High level talks being held, seems constructive and focused on arriving at a specific package, on how India and the U.S. continue to discuss a limited trade agreement, Acting Assistant Secretary of State for South and Central Asian Affairs, Alice Wells, told reporters in New York.
Ms. Wells said “concrete progress” on a trade deal had been made and that “talks that are being held are constructive” and focused on arriving at a specific package that will remove some of the irritants in the bilateral trade relationship.
“Trade always involves challenges” Ms. Wells said. “But it’s against a backdrop of rapidly increasing U.S.-India trade where bilateral trade is up to a $142 billion.” Ms. Wells also said U.S. exports to India had increased 28% last year. It is now “increasingly a two-way street when it comes to trade and investment.”
India and the U.S. had hoped to announce a limited trade package during the Modi-Trump bilateral on Tuesday. That they missed the deadline meant some incentive to wrap up a deal was lost. However, the two sides are seeing if they can still come up with something more modest than was initially anticipated.
Commerce Minister Piyush Goyal, who was in New York , had a phone call on Thursday with United States Trade Representative Robert Lighthizer who had returned to Washington DC. The two agreed to speak again by phone next week, after Goyal returns to New Delhi.
“India and the USA talking of a potential trade deal in the near future in itself is a big step,” Ridhika Batra , Director, FICCI USA said.
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