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| Michael Froman in New Delhi on Tuesday. (PTI) |
New Delhi, Nov. 25: The meeting between India and the US at the Trade Policy Forum, which took place after four years, did not lead to any breakthrough.
However, the countries chalked out a schedule to follow up on the talks that focused on agriculture, services, manufacturing and intellectual property rights besides capitalising on the resolution of a WTO trade dispute on food security.
A joint statement, which divulged few details, said the countries sought to “enhance bilateral trade and investment ties in a manner that promotes economic growth and job creation”.
The two sides decided to hold the next TPF in the US in 2015. The meeting was co-chaired by commerce and industry minister Nirmala Sitharaman and US trade representative Michael Froman.
Froman said there was a “palpable change” in the mood of international business community towards India after the new government came to power.
“There seems to be a quite palpable change in mood here among government officials, among business people, both foreign and domestic, and in the international business community,” he said.
However, he urged India to keep its market open and ensure that foreign investors can operate in a “transparent, predictable and consistent” environment.
The two nations decided to explore the possibility of giving greater market access to agricultural products and continue talks on visa issues.
The US also took note of India’s keenness on the early conclusion of the totalisation agreement to protect the interests of Indian professionals in America, who contribute more than $1 billion annually to the US social security system.
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