Reinventing Indo-US Ties for Global Growth and Stability

The two countries, India and the US have agreed to strengthen the bilateral trade through mutual discussion.

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Reinventing Indo-US Ties for Global Growth and Stability the policy times

On March 25, 2021, Piyush Goyal, Commerce, and Industry Minister had a serious and productive discussion with Katherine Tai, the USTR Ambassador. And on Friday, the government stated that India and the US have given a nod to resolve pending legacy issues and strengthen the investment relationship through mutual discussion.

Discussion Between The Minister and the USTR

The Minister and the USTR discussed several issues and also agreed to strengthen the trade and investment relationship between India and the US. The Industry Minister said, “The conversation included consolidating the economic partnership between like-minded democracies upholding the principles of openness, transparency and fair trade”. Both of them agreed to resolve pending legacy issues through mutual discussion. The Minister further stated, “They also agreed to strengthen the India-US Trade Policy Forum (TPF) and to convene the next ministerial-level meeting of the forum in 2021”.

Also Read: India Bonds with US after Saudi For Oil Imports; Middle Eastern Provinces Loose Power

Relationship Between India and The US

India and the US enjoy amity in their bilateral relationship. During the global pandemic, the relationship between India and the US has been a source of strength. Both countries have shared interests in promoting global security and stability, through trade and investment. Even the US seeks an expanded trade relationship with India which is reciprocal and fair.

TPT Policy Advocacy & Recommendations

  • Under the Presidency of Biden, it is expected that the US-India relationship will attain new heights in the year 2021. The agreement between the two countries to strengthen the bilateral trade will benefit India in increasing its growth and stability.
  • India’s global exports have fallen consistently due to the pandemic, so the country needs to strengthen bilateral relations with other markets. In terms of goods and services, the US has become a crucial trading partner of India. So the deal between the two countries will surely strengthen the trade relationship.
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Reinventing Indo-US Ties for Global Growth and Stability
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The two countries, India and the US have agreed to strengthen the bilateral trade through mutual discussion.
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THE POLICY TIMES
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