[ad_1]
According to an ET report, the TPF, to be held in New Delhi on January 13-14, will focus on various trade-related issues between the two countries. Commerce and industry minister Piyush Goyal and the US Trade Representative Ambassador Katherine Tai will co-chair the TPF.
While India has assured the US that it does not plan to expand the use of the import management system beyond the listed IT hardware products, officials have indicated that the issue could be discussed bilaterally at the forum. The US has expressed concerns that this measure could discourage its firms from doing business in India and negatively impact its exports.
“The matter was discussed during the G20 trade and investment ministers meeting, and we have addressed their queries at the WTO, but all issues can be further discussed at the TPF,” said an official.
Earlier this month, India informed the World Trade Organization (WTO) that its move to limit the imports of personal computers, laptops, and various IT hardware is rooted in national security apprehensions. The country emphasized to the international body that this administrative action aims to safeguard national security interests.
In October, India introduced a new authorization system for the import of electronic goods, including personal computers and laptops, to closely monitor their shipments. This decision came after the Indian government faced opposition when it initially proposed a licensing scheme for these products.
Read From ET | Agenda for TPF
The US is India’s largest trading partner, with exports worth $44.47 billion and imports from Washington valued at $24.87 billion between April and October of FY24. Apart from the authorization system, the two sides are also expected to discuss the progress of resolving seven WTO cases and strengthening intellectual property rights.
[ad_2]
Source link
