Advertisement

Updated December 14th, 2018 at 11:05 IST

Suresh Prabhu, US Commerce Secretary Wilbur Ross to discuss trade issues on February 14

Commerce and Industry Minister Suresh Prabhu will hold bilateral discussions on trade issues with US Commerce Secretary Wilbur Ross on February in New Delhi, an official said.

| Image:self
Advertisement

Commerce and Industry Minister Suresh Prabhu will hold bilateral discussions on trade issues with US Commerce Secretary Wilbur Ross on February in New Delhi, an official said.

Both the ministers would meet as part of the bilateral commercial dialogue.

The talks assumes significance as officials of both the sides are negotiating a trade package to boost bilateral commerce.

India is pressing for exemption from the high duty imposed by the US on certain steel and aluminium products, resumption of export benefits to some domestic goods under their Generalised System of Preferences (GSP) as well as greater market access for its products from sectors like agriculture, automobile, auto components and engineering.

READ | Suresh Prabhu: Government To Promote Education Sector To Increase Services' Share In GDP

On the other hand, the US is demanding greater market access through the cut in import duties for its agriculture goods, dairy products, medical devices, IT and communication items, the official added.

However, the commerce ministry is not in favour of cutting or eliminating customs duties on seven categories of ICT products, including high-end mobile phones and smart watches, as demanded by the US, citing revenue loss and adverse impact on Make in India initiative.

India's exports to the US in 2017-18 stood at USD 47.9 billion, while imports were USD 26.7 billion. The trade balance is in favour of India.

In Washington, Ross had on December 12 said: "I am happy to report that I'm scheduled to visit India this coming February. I'll be co-chairing the US-India Commercial Dialogue and the US- India CEO forum with my Indian counterpart, (commerce and industry) minister (Suresh) Prabhu".

READ | Innovation In Agriculture Sector Key To Cutting Wastage, Boosting Production: Suresh Prabhu

 

Advertisement

Published December 14th, 2018 at 11:05 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

former dsp shailendra singh revealed criminal activity of Mukhtar Ansari
2 minutes ago
TCS 'cash for jobs' scam
14 minutes ago
IBL Finance IPO
18 minutes ago
Congress Press Conference
18 minutes ago
Virat Kohli keeps a close watch on Gautam Gambhir
20 minutes ago
Good Friday
25 minutes ago
Life Insurance Corporation
25 minutes ago
Kerala Nirmal Lottery Sambad Friday Result
30 minutes ago
US Federal Reserve
31 minutes ago
Advertisement
Advertisement
Advertisement
Whatsapp logo