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🇮🇳 India /Economy & Trade

US and India Work Toward Fair, Reciprocal Trade Ties, Ambassador Says

From Hindustan Times · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Ongoing story
  • US Ambassador Sergio Gor said the United States and India are working toward a fair, reciprocal and mutually beneficial trade relationship.
  • Indian Commerce and Industry Minister Piyush Goyal is expected to visit the United States later in September for G20 trade talks and may discuss an interim bilateral trade agreement.
  • Gor said cooperation extends beyond goods trade to technology, pharmaceuticals, defence, data centres, military exercises and space.

Sergio Gor described the US-India relationship as being at a “historic high point,” pointing to cooperation that now reaches far beyond tariffs and trade in goods.

Speaking at the Automotive Component Manufacturers Association’s annual session in New Delhi, the US ambassador said the two countries were working together in information technology, data centres, pharmaceuticals, defence sales and military exercises. He also cited possible cooperation in space, including NASA’s invitation to India’s ISRO to join its Moon Base programme.

The US-India relationship stands at a historic high point. Pick any sector and the United States and India are working together on it

· Sergio GorThe ambassador characterized the breadth and strength of bilateral cooperation.

“Our two governments are working closely together to build a trade relationship that is fair, reciprocal and mutually beneficial,” Gor said. He added that India’s Commerce and Industry Minister Piyush Goyal would travel to the United States at the end of the month as Washington hosts G20 talks.

Our two governments are working closely together to build a trade relationship that is fair, reciprocal and mutually beneficial

· Sergio GorGor described the principles guiding the trade negotiations.

People familiar with the matter said Goyal was expected to attend the G20 Trade Ministerial in Milwaukee, beginning September 30. They said he was expected to meet his US counterpart and could discuss the interim bilateral trade agreement that the two sides have been negotiating.

Gor said the governments had made “real progress” on their trade understanding, but stressed that the economic relationship was broader than goods. He said market access had to work in both directions, with US suppliers and technology able to reach India and Indian companies able to compete fairly in the United States.

Our progress extends well beyond trade in goods. Our two nations are partnering on virtually everything

· Sergio GorHe emphasized that the relationship covers more than merchandise trade.

Goyal, speaking at the same event, said Gor’s attendance was “special.” He pointed to progress in India-European Union trade negotiations after the previous year’s meeting and expressed hope that the India-US agreement would also be concluded soon.

I want to underscore that fair market access cuts both ways

· Sergio GorGor said both US and Indian companies should receive fair access to the other market.
About this summary

Originally published by Hindustan Times in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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