Jaishankar and Raimondo agree to launch India-US Strategic Trade Dialog


India’s External Affairs Minister (EAM) S Jaishankar met with US Secretary of Commerce Gina Raimondo on Thursday in New Delhi and agreed to launch a India-US Strategic Trade Dialog, led by Foreign Secretary from the Ministry of External Affairs of India and Under Secretary, Bureau of Industry and Security in US Department of Commerce.

The Strategic Trade Dialog will address export controls, explore ways of enhancing high technology commerce, and facilitate technology transfer between the two countries, read the Ministry of External Affairs press release.

Raimondo is on her first visit to India as Secretary of Commerce. She met with Jaishankar to discuss US-India relations and opportunities for further economic cooperation.

Raimondo underscored the importance of the US-India bilateral relationship to the Biden Administration and the Department, including ongoing collaboration and potential for closer commercial ties through the US-India CEO Forum (CEO Forum) and the US-India Commercial Dialog, which she is co-hosting with Minister of Commerce and Industry Piyush Goyal today, read the US Department of Commerce press release.

Both Ministers had a “productive discussion” about the India-US strategic partnership and ongoing efforts to deepen the economic and commercial engagement between the two countries including through the initiative on Critical and Emerging Technology (iCET) and the Indo-Pacific Economic Framework (IPEF), added the release.

They also concurred on the need for increased bilateral strategic and high technology trade given the shared priorities of both countries in building resilient and trusted global supply chains.

The Secretary thanked the Minister for India’s continued support on the Indo-Pacific Economic Framework for Prosperity (IPEF), and raised the importance of the Framework to enhance the economic competitiveness of the United States, India, and the other IPEF partners, a US Department of Commerce press release added.

Mukesh Aghi, President, and CEO of USISPF, said: “The momentum in U.S.-India relations continues with US Commerce Secretary Gina Raimondo’s visit to India for the US-India Commercial Dialogue and US-India CEO Forum. Our commercial ties have come a long way in the last two decades and Secretary Raimondo’s visit will help open new avenues to further consolidate trade and investment opportunities. I am thrilled to see the restart of the India-USA Commercial Dialogue, the first since February 2019, and in a post-pandemic world, supply chain recovery is the key focus area.”

Aghi added, “On the back of optimistic trade dialog through the Trade Policy Forum, the Indo-Pacific Economic Framework, and the recent G20 Finance Chiefs meeting, it’s clear that the leadership in both capitals and the private sector across both democracies will converge to rebuild supply chains, work towards climate finance, build on semiconductor and critical technology manufacturing, and overall strengthen the commercial partnership.”

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