US business leaders prefer to 'wait and watch' Modi govt trade policies

Despite the successful Indo-US Trade Policy Forum meet in New Delhi this week, the American business community has said it will adopt a wait and watch policy on the Modi Government’s trade policies, particularly the areas of concern.

“We look forward to concrete and near-term steps to address and resolve these barriers,” the Alliance for Fair Trade with India said in a statement at the conclusion of the talks yesterday.

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This was the first trade policy meeting between the two countries after a gap of four years.

US Trade Representative Michael Froman led the American delegation while Commerce and Industry Minister Nirmala Sitharaman represented India at the talks.

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“Only then can the United States and India reach the full potential of their economic relationship. We will continue to engage at every level to urge progress and results toward a fair and level playing field in US-India trade,” the statement said.

The statement also thanked Froman and his team for their hard work in re-starting the Indo-US Trade Policy Forum after a four-year hiatus and for advancing meaningful conversations with India about longstanding and new barriers US business are facing in India.

PTI