India, US to discuss trade, economy in partnership spirit

NEW DELHI: India and the US will discuss bilateral trade and economic concerns "in the spirit of partnership" and expand commercial dialogue. This was stated in a joint statement on the Fifth India-US Strategic Dialogue.

External Affairs Minister Sushma Swaraj and US Secretary of State John Kerry "resolved to discuss bilateral trade and economic concerns in a spirit of partnership, including at the Ministerial Trade Policy Forum in India that both governments hope to convene in Fall 2014, focusing on key trade and investment issues," the statement said.

The Trade Policy Forum has not met since 2010. The two sides, it added, plan to expand the commercial dialogue. "They also agreed that India would host the next round of the High Technology Cooperation Group on mutually convenient dates this year," the statement added.

India-US bilateral trade was worth US $ 61.4 billion in 2013-14. Later talking to reporters, Kerry said: "Still, we know we have a lot of work to do in breaking down barriers to trade and in encouraging the talent that we both have to be able to go to work."

By limiting those obstacles, whether they are tariffs, price controls or preferential treatment to certain products in large influential markets, "we can build a more competitive market as well as build the bridges of opportunities that our young people in both the countries want so much", Kerry said.

With 10 million Indians entering the work force each year, the Indian government clearly understands this imperative, he added.