What Insights Did India and US Share on Their Bilateral Relationship?
Synopsis
Key Takeaways
- India and the US are advancing their trade negotiations.
- Minister Piyush Goyal emphasizes the importance of bilateral ties.
- Electronics exports are a major focus for India.
- India will join PaxSilica as a full member next month.
- Collaboration extends beyond trade to areas like security and technology.
New Delhi, Jan 19 (NationPress) Commerce and Industry Minister Piyush Goyal met with US Senator Steve Daines and US Envoy to India Sergio Gor on Monday, highlighting a fruitful discussion regarding their bilateral relationship.
This meeting is particularly significant as New Delhi and Washington are in the advanced stages of negotiating a highly anticipated trade agreement.
“I was thrilled to meet my esteemed friends, US Senator @SteveDaines and US Ambassador to India @SergioGor. We had a constructive dialogue on our bilateral ties,” the minister shared on X.
Gor previously mentioned that both nations remain actively engaged in trade discussions. He emphasized that while trade is crucial for the India-US partnership, both countries will also collaborate closely in other vital sectors such as security, counter-terrorism, energy, technology, education, and health.
According to Commerce Secretary Rajesh Agrawal, the initial phase of the India-US trade agreement is nearing completion, although no specific timeline can be guaranteed. A virtual meeting took place between Piyush Goyal and US Trade Representative Jamieson Greer in the last week of December, with negotiating teams from both sides engaged in ongoing discussions to reach a consensus.
India anticipates that exports to the US will remain strong. Electronics exports, which currently enjoy tariff-free status, have been a significant contributor thus far, despite rising duties affecting other sectors, as explained by the Commerce Secretary.
Additionally, Gor announced that India will be invited to join PaxSilica as a full member next month. He described PaxSilica as a new initiative launched by the United States to establish a secure, prosperous, and innovative silicon supply chain encompassing critical minerals, energy inputs, advanced manufacturing, semiconductors, AI development, and logistics.