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Immense scope for growth between India & US in digital economy, states US trade official

United States Trade Representative (USTR) Katherine Tai, who is on a two-day visit to India, said that there is immense potential for growth between the two economies in areas such as digital economy, services, health-related trade, as well as agriculture.

Addressing the India-USA Trade Policy Forum 2021, Tai, an American attorney, said that India's greatest asset is its people, news agency ANI reported.

Talking about the trade relation between India and United States, Tai said, "trade relationship between our two countries is a top priority, both for President Biden and for me. That's why it was important for me to come to India and re-launch the trade policy forum on my first trip to Asia."

"I know that all of you in this room are similarly invested in this trade relationship. You are putting in the hard work to build commercial ventures, navigate the trading system, and strengthen ties between our countries on a daily basis," Tai was quoted as saying by ANI.

Earlier in the day, Tai met Union commerce and industry minister Piyush Goyal in New Delhi.

Tai also said that "At USTR, we hear frequently from our stakeholders on issues in moving goods and services between our two countries, market access restrictions, high tariffs, unpredictable regulatory requirements, restrictive digital trade measures."

The American representative added that she is looking forward to discuss ways to enhance collaboration on worker centric policies which can benefit trade relationship between the two countries.

"These are issues where we intend to make progress and they will be on my list while I am here (in India)," she added.

Highlighting that India and the US face shared challenges in areas like climate change, vulnerable supply chains, and promoting market-oriented principles and structures, the top American trade representative outlined that “these areas are ripe for closer collaboration.”

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