WASHINGTON: Observing that trade has been a space of frustration in bilateral ties, the United States has said that the door is open if India is ready to convey a serious proposal to the desk to address the problems related to trade and marketplace access.
The US in November final year revoked duty-free concessions on import of no less than 50 Indian merchandise, most commonly from handloom and agriculture sectors, reflecting the Trump administration's difficult stand on trade-related issues with New Delhi.
A senior State Department authentic said on Friday that the United States is proud to be India's biggest export marketplace and maximum vital economic partner.
"But we have struggled with regulatory issues that get in the way of the ease of doing business and market access for American companies and products," said the authentic.
"Trade has frankly been an area of frustration in the relationship, but the door is open if India is prepared to bring a serious proposal to the table," he said.
Despite extensive engagement with the federal government of India for nearly a year, India did not assure the United States that it could provide equitable and cheap access to its marketplace, which resulted in its termination from the Generalised System of Preferences programme, the authentic said.
"While we were pleased that the growing US exports to India, largely crude oil and LNG, led to a 7.1 per cent reduction in our bilateral goods trade deficit last year, many structural challenges in our trade relationship have yet to be resolved," said the senior State Department authentic.
During his fresh consult with to the United States, overseas secretary Vijay Gokhale may be believed to had been conveyed that the ball is in India's court on resolving the trade linked issues.
The US is known to have instructed India that the Trump administration is prepared to study its choice to revoke its GSP privileges to India if New Delhi comes with a reputable proposal to address the marketplace access issues that America has been speaking about for nearly a year.
The GSP notification remains to be within the 60 days period, after which the advantages would officially be withdrawn, it's reliably learnt that the United States has instructed India that it's not too overdue. But it's not likely to happen, for the reason that India is now into an election campaign mode, officers on either side said.
While India argues that it's tricky to take any coverage choice at this point of time on account of the elections and the model code of conduct, America points out that it has determined to take its choice on revoking GSP privileges best after it exhausted all choices with India.
During talks with India, America is assumed to have said that there are ingenious tactics of resolving all trade linked issues and address considerations of each the nations.
The US in November final year revoked duty-free concessions on import of no less than 50 Indian merchandise, most commonly from handloom and agriculture sectors, reflecting the Trump administration's difficult stand on trade-related issues with New Delhi.
A senior State Department authentic said on Friday that the United States is proud to be India's biggest export marketplace and maximum vital economic partner.
"But we have struggled with regulatory issues that get in the way of the ease of doing business and market access for American companies and products," said the authentic.
"Trade has frankly been an area of frustration in the relationship, but the door is open if India is prepared to bring a serious proposal to the table," he said.
Despite extensive engagement with the federal government of India for nearly a year, India did not assure the United States that it could provide equitable and cheap access to its marketplace, which resulted in its termination from the Generalised System of Preferences programme, the authentic said.
"While we were pleased that the growing US exports to India, largely crude oil and LNG, led to a 7.1 per cent reduction in our bilateral goods trade deficit last year, many structural challenges in our trade relationship have yet to be resolved," said the senior State Department authentic.
During his fresh consult with to the United States, overseas secretary Vijay Gokhale may be believed to had been conveyed that the ball is in India's court on resolving the trade linked issues.
The US is known to have instructed India that the Trump administration is prepared to study its choice to revoke its GSP privileges to India if New Delhi comes with a reputable proposal to address the marketplace access issues that America has been speaking about for nearly a year.
The GSP notification remains to be within the 60 days period, after which the advantages would officially be withdrawn, it's reliably learnt that the United States has instructed India that it's not too overdue. But it's not likely to happen, for the reason that India is now into an election campaign mode, officers on either side said.
While India argues that it's tricky to take any coverage choice at this point of time on account of the elections and the model code of conduct, America points out that it has determined to take its choice on revoking GSP privileges best after it exhausted all choices with India.
During talks with India, America is assumed to have said that there are ingenious tactics of resolving all trade linked issues and address considerations of each the nations.
US says door open for India to bring serious trade proposal to table
![US says door open for India to bring serious trade proposal to table]()
Reviewed by Kailash
on
March 17, 2019
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