Saturday, April 1, 2023

India, US agree to step up coordination to boost trade, investment – Usky News

New Delhi: India and the US on Friday agreed to enhance coordination to promote trade and investment, especially by small and medium-sized enterprises and startups, according to a joint statement.
Statement issued after India-US commercial dialogue and CEO Forum meetings here. US Commerce Secretary Gina Raimondo Came here on a four-day visit for the meeting.
Bilateral trade in goods and services between the two countries is set to almost double since 2014, to exceed USD 191 billion in 2022.
“With the US becoming India’s largest trading partner in 2022, the two sides will take further steps to enhance their commercial cooperation and tap market potential in several sectors,” the statement said.
It added, “Both sides envision best coordination to promote an enabling environment for increased investment, including from SMEs and start-up companies.”
Commerce and Industry Minister Piyush Goyal Raimondo said Raimondo has agreed to convene a meeting before the end of 2023 to review progress in the identified priority areas under negotiation.
He also discussed concerns that cyber threats such as unauthorized access, ransomware and data destruction are on the rise, and the need to guard against those threats.
“Secretary Raimondo welcomed approaches to explore the possibility of mutually beneficial engagement on cyber security and artificial intelligence (AI), as well as under established bilateral mechanisms such as information sharing and commercial negotiations on cyber security and AI resources, It said.
On facilitating climate and clean technology cooperation, the statement noted that the two sides will seek greater collaboration between their industries to help meet the critical need to enhance energy security of our countries and reduce greenhouse gas emissions. decided to have a relationship.
“Minister Goyal noted India’s interest in increasing access to components in the solar energy value chain, increasing investment in battery storage, and seeing greater US cooperation on building offshore wind turbines.”
On promoting inclusive digital growth, the statement said the two leaders agreed to continue promoting cross-border data flows.
“Both sides intend to work together in the validation and deployment of reliable and secure next-generation telecommunication network equipment in next-generation telecommunications infrastructure, as well as next-generation telecommunication network equipment, including Open RAN,” the statement said. Are.”
On further standards and conformity cooperation, it was stated that the two ministers agreed to facilitate bilateral trade through better information sharing and dialogue between the public and private sectors on technical regulations, standards and conformity assessment procedures.


- Advertisement -

More News

Latest NEWS

- Advertisement -