homevideos Newsworld NewsAgriculture, ease of doing business crucial for India US trade relations: USISPF
Agriculture, ease of doing business crucial for India-US trade relations: USISPF
The United States has recently become India's primary trading partner, with bilateral trade in goods and services reaching $192 billion in 2022. India is also pushing for expedited visa processing for its professionals and businessmen, along with the restoration of the Generalized System of Preferences (GSP).
Katherine Tai, the United States' trade representative, is currently engaged in discussions with her Indian counterpart, Piyush Goyal. The United States has recently become India's primary trading partner, with bilateral trade in goods and services reaching $192 billion in 2022.
A top priority for Tai is addressing the trade deficit with India and securing increased market access for American agricultural products.
Mukesh Aghi, President & CEO of USISPF, in an interview to CNBC-TV18 highlighted that agriculture is critical for US-India trade relations.
Aghi also acknowledged India's flexibility in dealing with these imports, recognizing the sensitivity of the issue due to the substantial farmer community in the country.
Concurrently, India is pushing for expedited visa processing for its professionals and businessmen, along with the restoration of the Generalized System of Preferences (GSP).
Aghi, however, downplays the impact of GSP, stating that all the category of goods under GSP are the fastest export growing goods into the US.
Aghi notes the progress in ease of doing business in India over the past decade but highlights ongoing concerns for US companies. He believes that there is still room for improvement on the ease of doing business front, despite positive developments in recent years.
Watch accompanying video for entire conversation.
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