India, US to reconvene trade policies before year-end: report


India and the United States “look forward” to reconvening the India-United States Trade Policy Forum before the end of 2021 in a bid to strengthen bilateral ties by addressing trade concerns, a joint official statement said. . US President Joseph R Biden on Friday welcomed Indian Prime Minister Narendra Modi to the White House for their leaders’ first in-person engagement, renewing their close relationship and charting a new course for advancing the partnership between the world’s greatest democracies.

“They looked forward to reconvening the India-U.S. Trade Policy Forum before the end of 2021, in order to improve bilateral trade relations by addressing trade concerns, identifying specific areas for increased engagement and developing a ambitious and shared vision for the future of trade relations, “said the statement issued by the joint US-Indian leaders after the meeting.

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He added that the two leaders are also looking forward to convening the US-India CEO Forum and Business Dialogue in early 2022, leveraging private sector talent. “The leaders noted the ongoing negotiations on an investment incentive agreement that facilitates investment in development projects and pledged to an early conclusion,” he added.

Modi and Biden further discussed how the United States and India will work together to establish sustainable and transparent rules of conduct that will help boost economies across the Indo-Pacific. They welcomed increased collaboration through the Coalition for Disaster Resilient Infrastructure and the upcoming Indo-Pacific Business Forum, the statement added.

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“The leaders noted that the movement of highly qualified professionals, students, investors and business travelers between their countries strengthens their economic and technological partnership,” the statement said. The leaders stressed the importance of resilient and secure supply chains between the two countries and welcomed the involvement of the private sector in both countries in strengthening links in critical sectors such as pharmaceuticals, biotechnology, semiconductors and information technology.

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They also recognized the importance of critical and emerging technologies in economic growth and the achievement of strategic priorities. They looked forward to relaunching the High-Tech Cooperation Group (HTCG) in early 2022, with the aim of accelerating high-tech trade in key areas, according to the joint statement.