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Commerce & Industry Minister Suresh Prabhu Visits US, meets USTR

New Delhi:

Port Wings News Network:

To take forward the robust commercial ties with the United States and to resolve outstanding bilateral trade issues, a delegation led by Union Minister of Commerce & Industry and Civil Aviation Suresh Prabhu visited USA on 10-12 June 2018 for meetings with his US interlocutors.

During the visit, he held series of discussions with key officials including the US Trade Representative, Robert E. Lighthizer, Secretary of Commerce, Mr. Wilbur L. Ross and Secretary of Agriculture, Mr. Sonny Perdue. The Minister also had a joint meeting with the India Caucus Co-chairs Senator Mark Robert Warner and Senator John Cornyn. The meetings were held in a friendly and cordial atmosphere, with appreciation for each other’s points of view. Discussions centered around bilateral trade and commercial relations between the two countries and focused on finding the way forward to address concerns of both sides so as to result in a win-win situation. Both the sides agreed for high level official talks at an early date to discuss various issues of interest to both sides and carry forward the discussions in a positive, constructive and result oriented manner.

During the visit, Commerce Minister also interacted with the business community and addressed industry leaders in meetings organized by US-India Business Council (USIBC) and US-India Strategic Partnership Forum (USISPF). The Minister informed the industry leaders about the aggressive economic reforms undertaken by India such as GST, Make-in-India, Startup India and ‘Fund of Funds for Startups’ (FFS), Digital India programme, e-commerce, promoting innovation and entrepreneurship and how they have made the business climate much easier in India. Minister, Suresh Prabhu, noted the encouraging growth in trade volumes through purchases of US-made civilian aircrafts by Indian companies and enhanced cooperation in the area of energy, including procurement of petroleum and LNG by India from the US. He also pointed out that India’s rapid economic growth will create significant new market opportunities in these and other areas and added that these purchases have already led to reduction in bilateral trade deficit in 2017. Future sales will sustain this trend and create a balanced trade relationship between the two countries.

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