The United States and India plan to push bilateral trade in energy, aerospace, defense, pharmaceuticals, and healthcare as part of a continuing commercial dialogue. Bilateral trade, which stood at $126 billion in 2017, is believed by many to be only a quarter of the actual potential between the two countries.
The two countries have set up seven working groups of chief executives — including India’s Tata Group chairman N. Chandrasekaran and American Tower CEO James Taiclet — with top U.S. and Indian firms that will focus on financial trade and investments as well as bring together small and medium enterprises from the two countries.
The groups will discuss issues such as data localization that India has mandated, U.S. tariffs imposed last year on steel and aluminum imports, India’s new rules on e-commerce, and India’s large trade deficit with the United States, among others.
“The working groups have been formed among the CEOs. They will be providing recommendations to the government,” Kenneth Juster, U.S. Ambassador to India, said.
U.S. and Indian officials continued talks on Thursday, February 14, to resolve differences over trade and investment, after U.S. Commerce Secretary Wilbur Ross called off his visit to India due to bad weather at home. Ross addressed the forum in New Delhi through teleconference after his flight to India was cancelled due to blizzard conditions in Washington.
