Agriculture, GSP & Visa Expected In Agenda For India-US TPF Meeting
Issues about promoting agri trade, visas and resumption of benefits under the American generalised system of preferences (GSP) are expected to be discussed in the meeting of India-US Trade Policy Forum (TPF) in January next year, an official with the development said.
US Trade Representative Katherine Tai will be in India to meet with Piyush Goyal, Minister of Commerce and Industry Minister.
"During the two-day meeting starting 13 January 2024, both parties will explore avenues to enhance trade and investments between the two nations. This will mark the 14th ministerial-level meeting of the India-US Trade Policy Forum," stated the official.
The last meeting took place in Washington in January 2023. India, during that session, emphasised concerns about the prolonged processing time for business visas for Indian individuals.
New Delhi is actively seeking the reinstatement of its beneficiary status under the US Generalised System of Preferences (GSP) programme.
The former Trump administration in the US revoked India's Generalised System of Preferences (GSP) in 2019. The GSP granted eligible developing nations duty-free access to export goods to the US.
Approximately 1,900 Indian products, spanning sectors like chemicals and engineering, previously enjoyed this benefit under the GSP, established in 1976.
In the last Trade Policy Forum (TPF) meeting, both nations had recognised the pivotal role played by the movement of skilled workers, professionals and business travelers in nurturing bilateral economic and technological collaboration, as highlighted by the official.
Additionally, the official mentioned that the anticipated social security totalisation agreement might be a topic of discussion.
The totalisation agreement would spare expatriates in either country from contributing to the host nation's social security schemes, providing significant benefits, especially to Indians in the IT sector working in America who contribute to social security without receiving any benefits.
During the 13th Trade Policy Forum (TPF) meeting, the two nations inaugurated a new working group focusing on resilient trade.
This initiative aims to intensify bilateral discussions on various aspects enhancing the resilience and sustainability of the trade relationship, with a specific focus on trade facilitation.
