The Hindu Business Line : US-India trade policy forum keen on strategic ideas

Under the leadership of the Commerce and Industry Minsiter, Mr Kamal Nath, and the USTR Ambassador, Ms Susan C. Schwab, the US-India Trade Policy forum’s Private Sector Advisory Group has held its first meeting in New York.

Addressing a press conference in New York, Mr Kamal Nath said the two leaders met with leading trade experts to discuss ways in which the PSAG could help to inject strategic, policy-related ideas into the Trade Policy Forum.

“We discussed where we want to be over the next two to five years and to provide recommendations on the incremental steps we can take to overcome obstacles and enable unfettered trade and investment between the two countries,” he said.

Mr Nath added that the Group will support the two governments to strengthen bilateral trade and investment relationship and “deepen bonds between India and the US”.

“The US-India economic partnership is the strongest it has ever been, and trade has played a vital role in that development,” said Ms Schwab.

“Results have been achieved by the Trade Policy Forum’s government-to-government dialogue. I look forward to taking on board the Private Sector Advisory Group’s recommendations for intensifying trade and investment flows in coming years.” Mr Nath added that the Advisory Group provides an opportunity on an institutional basis to identify areas of mutual interest. “It is a unique arrangement, wherein both sides will engage to evolve a set of core ideas that will provide impetus to bilateral trade and also promote transparency between the Trade Policy Forum and the private sector.” Those who attended the meeting included Dr C. Fred Bergsten, Director, Peterson Institute for International Economics (Co-Chair), Ambassador Ms Carla Hills, former US Trade Representative, currently Chairman and CEO of Hills & Co, Mr John J. Castellani, President, Business Roundtable, Mr Ron Somers, President of the US-India Business Council. From the Indian side, the FICCI President, Mr Habil Khorakiwala, and Dr Isher Judge Ahluwalia, Chairman, Indian Council for Research on International Economic Relations (Co-Chair), attended the meet.

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