India, US explore ways to promote trade, investment

Commerce and Industry Minister Nirmala Sitharaman and US Trade Representative Michael Froman discussed ways to improve trade and investments relations further, an official said.

By: PTI | New Delhi | Published:October 20, 2016 1:07 pm
India-Us, India-US trade, india-US trade deal, nirmala sitharaman, michael froman, US trade representative, trade and investment, india business, business news, indian express Union Commerce and Industry Minister Nirmala Sitharaman. (File Photo)

Trade ministers of India and the US on Thursday discussed various issues with an aim to ramp up trade and investment between the two countries. US Trade Representative Michael Froman is leading a high-level delegation here for the 10th India-US Trade Policy Forum (TPF) meeting. Commerce and Industry Minister Nirmala Sitharaman and Froman discussed ways to improve trade and investments relations further, an official said. Both the ministers will also hold delegation-level talks on Thursday as part of TPF.

Issues such as market access for agriculture items, promotion of investment in manufacturing and intellectual property rights (IPRs) are likely to figure in the meeting. TPF is the premier bilateral forum for discussion and resolution of trade and investment issues between the two countries.

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It has five focus groups: agriculture, investment, innovation and creativity (intellectual property rights), services, and tariff and non-tariff barriers. The bilateral trade between the countries stood at USD 109 billion in 2015-16.