Prelims level : IR Mains level : India- US Relationships
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Why in News?

  • India and the United States held the India-U.S. Bilateral Trade meeting in New
  • Suresh Prabhu, Minister of Commerce & Industry and Civil Aviation, Government of India and Mr. Wilbur Ross, Secretary of Commerce, United States of America co-chaired the bilateral Meeting

India-U.S meeting:

  • Both sides appreciated the strong, robust and growing bilateral ties between India and the U.S. across the entire spectrum of trade and commerce.
  • During the year 2018, with bilateral trade in Goods and Services registered a growth of 12.6% from $ 126 billion in 2017 to $142 billion in 2018
  • Both co-chairs also complimented the new bilateral private sector led Small Business Interaction initiative, the US – India SME Forum
  • This is the first event of its kind and would pave the way for collaboration and partnership between the U.S. and Indian small and medium enterprises (SMEs) in the areas of manufacturing and services.
  • Both sides also discussed various outstanding trade issues. Both sides agreed to engage regularly at various levels to resolve outstanding trade issues by exploring suitable solutions, which are mutually beneficial
  • Both sides agreed to deepen economic cooperation and bilateral trade by ensuring greater cooperation amongst stakeholders, including Government, businesses and entrepreneurs.
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