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07
September 2018
 |
India US (The Total Investment & Insurance Solutions)
Senior officials of India and the US Friday
held detailed deliberations on ways to resolve trade related issues and boost
economic ties. "India - US Commercial Dialogue Intersessional meeting
held. Indian delegation led by Commerce Secretary Anup Wadhawan and US side by
Gilbert Kaplan, Under Secretary, USDOC," the Department of Commerce said
in a tweet.
The meeting assumes significance as India has
announced hike in customs duties on as many as 29 products, including pulses,
iron and steel products, imported from the US as a retaliatory action against
the tariff hikes by Washington.
The meeting follows a visit by Indian
officials to the US last week. It was the first meeting of the two sides after
India deferred its retaliatory tariffs by 45 days to September 18. US Trade
Representative (USTR) for South and Central Asian Affairs Mark Linscott and
Deputy USTR Jeffrey D Gerrish are likely to visit India next week to continue
the talks.
India is pressing for exemption from high
duty imposed by the US on certain steel and aluminium products and resumption
of export benefits to certain domestic items under their Generalised System of
Preferences (GSP).
As many as 3,500 Indian products from sectors
such as chemicals and engineering get duty-free access to the US market under
the GSP, introduced in 1976. India's exports to the US in 2017-18 stood at USD
47.9 billion, while imports were USD 26.7 billion. The trade balance is in
favour of India. RR ABM ABM The Total
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