13th ministerial meeting of Indo-US Trade Policy Forum likely in 2023

20 Dec '22

1 min read

Pic: Shutterstock

The 13^th ministerial meeting of the India-US Trade Policy Forum (TPF) is expected to be held early next year in the United States and both the sides are working on achieving a substantial agenda for that, the Indian ministry of commerce recently said. The meeting was deferred earlier in November due to local elections in both the countries.

The TPF is a forum to resolve bilateral trade and investment issues with five focus groups—agriculture, investment, innovation and creativity (intellectual property rights), services and tariff and non-tariff barriers.

The last meeting of the TPF was held in November last year in India after four years, and India had asked for restoration of the Generalised System of Preferences benefits to Indian exporters on which the US side stated that this could be considered.

Bilateral trade between the countries has increased to $119.5 billion in 2021-22 from $80.5 billion in 2020-21. India received $55.61 billion foreign direct investment from the United States between April 2000 and June 2022.

On the proposed India-Canada free trade agreement, the ministry said five rounds of talks have been conducted till November-end, a news agency reported.

Fibre2Fashion News Desk (DS)

More Textiles News - India...