Huge potential for growth between India-US in digital economy, services, health-related trade, agriculture: Katherine Tai

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

While speaking at India - USA Trade Policy Forum (TPF) 2021, Tai said that India's greatest asset is its people.

Talking about the trade relation between India and US, 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 said.

She 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."

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

Meanwhile, Union Minister of Commerce and Industry Piyush Goyal also said TPF 2021 is the beginning of a new chapter in the trade relations between India and the US.

"I believe that India's competitive advantages of cost, skilled manpower and huge market domestic demand combined with US' innovation and investment can become a winning partnership amongst natural friends," said Goyal.

He also said that India and US can use this platform to engage and resolve outstanding issues in an amicable manner and send a strong message to the world that the US and India partnership is stronger than ever before.

"I hope our meetings will encourage business communities and investors on both sides to look at a greater degree of engagement," said the minister.

Tai, who is on a two-day visit to India, is accompanied by Deputy United States Trade Representative Sarah Bianchi.

( With inputs from ANI )

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