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India, US To Reconvene Trade Policy Before Year-End: Report

Additionally they recognised the significance of vital and rising applied sciences

India and the US are wanting “ahead” to reconvening the India-US Commerce Coverage Discussion board earlier than the top of 2021 with an purpose to boost the bilateral relationship by addressing commerce considerations, stated an official joint assertion. US President Joseph R Biden welcomed India’s Prime Minister Narendra Modi to the White Home on Friday for his or her first in-person Leaders’ engagement, renewing their shut relationship and charting a brand new course to advance the partnership between the world’s largest democracies.

“They appeared ahead to reconvening the India-US Commerce Coverage Discussion board earlier than the top of 2021, to boost the bilateral commerce relationship by addressing commerce considerations, figuring out particular areas for elevated engagement and creating an formidable, shared imaginative and prescient for the way forward for the commerce relationship,” stated US-India Joint Leaders” Assertion issued after the assembly.

It additional stated the 2 leaders additionally appeared ahead to convening the US-India CEO Discussion board and the Business Dialogue in early 2022, leveraging the skills of the non-public sector. “The leaders famous ongoing negotiations on an Funding Incentive Settlement that facilitates funding in growth initiatives and dedicated to an early conclusion,” it added.

Modi and Biden additional mentioned how the US and India will work collectively to set sustainable and clear guidelines of the street that can elevate economies all through the Indo-Pacific. They welcomed elevated collaboration by the Coalition for Catastrophe Resilient Infrastructure and the upcoming Indo-Pacific Enterprise Discussion board, the assertion added.

“The leaders famous that the motion of extremely expert professionals, college students, traders and enterprise travellers between their international locations enhances their financial and technological partnership,” the assertion stated. The leaders highlighted the significance of resilient and safe provide chains between the 2 international locations, and welcomed the involvement of the non-public sector in each international locations in constructing stronger linkages in vital sectors reminiscent of prescribed drugs, biotechnology, semiconductors, and knowledge know-how.

Additionally they recognised the significance of vital and rising applied sciences in delivering financial progress and attaining strategic priorities. They appeared ahead to reviving the Excessive Know-how Cooperation Group (HTCG) in early 2022, with the target of accelerating excessive know-how commerce in key areas, the joint assertion stated. 

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