13th India-US Trade Policy Forum

Tags: Economy/Finance International News

Piyush Goyal was on an official visit to New York and Washington DC from January 9-11 to participate in the India-US Trade Policy Forum.

An overview of the news

• The 13th Trade Policy Forum (TPF) meeting was hosted by US Trade Representative Catherine Tai in Washington on 11 January.

• Commerce and Industry Minister Piyush Goyal at the forum urged the US to expedite the issuance of business visas so that people can make short trips to pursue their trade and business interests.

• After participating in the forum, he said that the issuance of business visas in India is taking a long time and needs to be expedited so that investments are not affected.

• His visit included delegation-level talks and a meeting with US Trade Representative Ambassador Catherine Tai.

• There is an increasing movement of professionals, students, skilled workers, investors and business travellers between the two countries.

• According to the commerce ministry, in 2021-22, the bilateral trade between the US and India stood at USD 119.42 billion as against USD 80.51 billion in 2020-21.

About the India-US Trade Policy Forum

• It is a platform for continued engagement between the two countries in the field of trade and to further enhance bilateral trade and investment ties.

• The 12th TPF Ministerial Conference was held in New Delhi on 23 November 2021 after a gap of four years.