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What is the story about?
Stating that the current interim trade agreement is on the table for the India and the United States to finalise, US Ambassador to India Sergio Gor said that it's been a year and a half since both sides had started negotiations, adding that he is confident that over the next weeks or months the trade deal will be finalised which will bring stability and opportunity for both the sides.
To add perspective to the duration of trade talks, he highlighted that the trade deal with the European Union (EU) took almost 19 years.
Speaking at an event in New Delhi, he noted that both the sides look to finalise details of a Bilateral Trade Agreement (BTA) "that will truly unlock potential of our bilateral relationship by expanding market access, reducing barriers, and creating greater certainty for businesses on both sides of the table."
He pointed out that the "agreement will strengthen supply chains and catalyse new investment and drive sustained, inclusive growth, bringing tangible benefits to our industries, workers, and economies."
While India had sent a trade delegation to the US last month, the Ambassador said that next month, the US will be sending a delegation focused on the trade deal.
Calling for predictable taxation and regulatory framework to enable businesses on both the sides, he batted for candid engagement on export controls and technology flows, and a strong IPR to encourage innovation as he highlighted the need for both countries to work as partners to promote growth and stability across the region.
While he noted that Indian companies continue to expand in the US, particularly in pharmaceuticals, manufacturing, and technology; he pointed out that that every single week, CEOs from the US visit their Embassy in New Delhi saying that they want to move their company from another country to India.
He added that CEOs of Uber and Walmart were here last week, while top executives from Boeing and other companies are expected this week.
To add perspective to the duration of trade talks, he highlighted that the trade deal with the European Union (EU) took almost 19 years.
Speaking at an event in New Delhi, he noted that both the sides look to finalise details of a Bilateral Trade Agreement (BTA) "that will truly unlock potential of our bilateral relationship by expanding market access, reducing barriers, and creating greater certainty for businesses on both sides of the table."
He pointed out that the "agreement will strengthen supply chains and catalyse new investment and drive sustained, inclusive growth, bringing tangible benefits to our industries, workers, and economies."
While India had sent a trade delegation to the US last month, the Ambassador said that next month, the US will be sending a delegation focused on the trade deal.
Calling for predictable taxation and regulatory framework to enable businesses on both the sides, he batted for candid engagement on export controls and technology flows, and a strong IPR to encourage innovation as he highlighted the need for both countries to work as partners to promote growth and stability across the region.
While he noted that Indian companies continue to expand in the US, particularly in pharmaceuticals, manufacturing, and technology; he pointed out that that every single week, CEOs from the US visit their Embassy in New Delhi saying that they want to move their company from another country to India.
He added that CEOs of Uber and Walmart were here last week, while top executives from Boeing and other companies are expected this week.
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