India, US discuss ways to give impetus to growing p'ship, invest flows

Commerce and Industry Minister Piyush Goyal engaged in discussions with US Trade Representative Katherine Tai to explore avenues for bolstering trade and investments between the two nations.

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Goyal shared on the social media platform X (previously known as Twitter) that he recently held a bilateral meeting with his American counterpart, Katherine Tai. During this meeting, they deliberated on critical bilateral matters of shared interest and delved into strategies to give a greater impetus to the burgeoning partnership between India and the US by fostering enhanced trade and investments. Notably, the two countries are in the process of resolving their final trade dispute concerning poultry within the World Trade Organization (WTO). This step aligns with their joint commitment made during Indian Prime Minister Narendra Modi's visit to the US in June, where they mutually resolved six pending trade disputes at the WTO.

Both nations are also considering ways to deepen their partnership by allowing companies from each country to participate in the government procurement processes of the other. This move aims to expand the scope of collaboration and economic engagement. The poultry dispute, initiated by the US against India in 2012, has now entered discussions for a mutually acceptable resolution. The dispute pertains to India's ban on importing poultry products from the US, which was found inconsistent with global trade norms by the WTO. In response, the US demanded compensation for India's inability to comply with the WTO's decision within the stipulated timeframe.