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BOOSTING INDO-US TRADE: The US Trade Representative, Mr Robert Portman, and the Union Minister for Commerce and Industry, Mr Kamal Nath, at a luncheon meeting with businessmen in the Capital on Saturday. - Kamal Narang

New Delhi , Nov. 12

IN an effort to facilitate increased trade and investment flows between India and the US, the two countries have agreed to establish focus groups on agriculture, tariff and non-tariff barriers, services, investment, innovation and creativity.

This was decided at the inaugural meeting of the US-India Trade Policy Forum that was co-chaired by the Minister for Commerce and Industry, Mr Kamal Nath, and the US Trade Representative, Ambassador Mr Rob Portman.

The Forum, which was set up during the visit of the Prime Minister, Dr Manmohan Singh, to Washington in July this year, is designed to expand bilateral trade and investment relations between the two countries.

Addressing the media after the inaugural meeting, Mr Kamal Nath said the groups would communicate with each other every six weeks. "We want the entire process to be hands-on." The focus groups will function under the supervision of the Commerce Secretary, Mr S.N. Menon and the Deputy US Trade Representative, Mr Karan Bhatia.

"The focussed groups will help us identify opportunities, deal with the challenges and, therefore, enhance trade. They will help us deal with issues before they become a problem," Ambassador Portman said and added that given the size of the two economies and the commonness between the two nations, there was no reason why relations should not become more robust.

Mr Portman supported the Commerce Minister's suggestion to double Indo-US merchandise trade to $40 billion in the next three years.

Asked on the forthcoming Hong Kong round WTO meeting, Mr Nath said that "Hong Kong is not meant to be the end-all. It is important to take a step in taking it forward towards Doha. It is only a milestone and not the end-all." Ambassador Portman was of the view that the round was at a crucial juncture. "We both believe that the level of ambition should be kept high," Ambassador Portman said.

On the issue of services, he was of the view that this was an area of potential and added that sectors such as banking and insurance were of great interest to US companies.

Earlier, at a meeting organised by the Federation of Indian Chambers of Commerce and Industry, Ambassador Portman called on India to reduce farm subsides for greater market access in developing countries.

"Unless we can solve the problem on agriculture, it is difficult to move on and have a successful conclusion of other very important aspects of this round, including reduction in industrial tariffs,'' he said.

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