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India should resolve market access issues: US envoy
Says India needs to demonstrate its willingness to be a part of the global supply chain
Washington: India needs to demonstrate its willingness to be a part of the global supply chain by taking steps towards resolving larger market access issues, a top US diplomat has said, expressing hope that a bilateral trade deal being negotiated can be a "stepping stone" to more ambitious trade liberalisation.
Speaking at a programme to commemorate the 60th anniversary of President Eisenhower's Historic Visit to India, Acting Assistant Secretary of State for South and Central Asia, Alice G Wells, said the trade talks between India and the US are going on well. "The talks are in a better place.
They take much longer than we would like. The deal will be modest but hopefully a stepping-stone to more ambitious trade liberalisation," Wells said during the programme organised jointly by the South Asia Center of the Atlantic Council and The Asia Group.
She said India needs to demonstrate to the international community its willingness to become a part of the global supply chain.
"But this is something we really see India needing to demonstrate, not just to the United States, but to the international community, its willingness to become a part of that global supply chain.
This could, we hope, also be a first step towards resolving larger market access issues, including in sectors affected by India's data localisation and e-commerce policies," Wells said.
"Our goal remains to continue expanding trade and investment in a way that's fair, balanced and reciprocal," she added.
Noting that the bilateral trade between India-US grew to $142 billion, Wells said that the two countries are doing well and increasing the amount of trade, with the deficit decreasing largely due to strategic investments by India in energy imports.
She said there is an intense interaction between US Trade Representatives and India.
In September, US President Donald Trump said that America will soon have a trade deal with India to boost economic ties between the two nations.
