During the visit, India - USA Commercial Dialogue and CEO Forum to be held
US
Secretary of Commerce HE Ms Gina Raimondo will be visiting New Delhi,
India between 7-10 March on the invitation of Shri Piyush Goyal, Union
Minister of Commerce and Industry, Consumer Affairs, Food and Public
Distribution and Textiles.
During the visit, India - USA Commercial Dialogue and CEO Forum will be
held on 10th March 2023 to discuss cooperation in various sectors that
could unlock new trade and investment opportunities between the two
countries.
The Commercial Dialogue is a cooperative undertaking encompassing
regular government-to-government meetings to be held in conjunction with
private sector meetings, with an aim to facilitate trade, and maximize
investment opportunities across a broad range of economic sectors.
The last India-USA Commercial Dialogue was held in February 2019. Since
then, due to pandemic and other factors it could not be held. It is
proposed to re-launch the Commercial Dialogue with strategic outlook
with focus on supply chain resiliency & diversification and new
emerging areas, after a gap of three years.
Earlier, India-US CEO Forum was soft-launched by Indian Commerce &
Industry Minister and US Secretary of Commerce on 9th November 2022 via
video-conference for which identified key priorities were increasing
supply chain resilience, enhancing energy security & reducing
overall greenhouse gas emissions, advancing inclusive digital trade; and
facilitating post-pandemic economic recovery, especially for small
businesses.
Trade, Commerce and Economy had always enjoyed a place of prominence in
the India-US multifaceted strategic bilateral relations. Today, the two
countries are leading trading partners of each other. India is the ninth
largest trading partner for the US, while the US is India’s largest
trading partner and the largest export destination. The bilateral trade
in goods saw very robust growth during CY 2022, surpassing $131 billion
in goods, thus doubling since 2014 (in 8 years) while total trade in
Goods and Services is expected to cross US$ 180 billion. US is also the
third biggest source of FDI for India, and USA is one of the top five
investment destinations for India. This visit will immensely contribute
towards furthering trade and commercial ties between the two countries.
source ; pib
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