Commerce Min’s visit to US: Goyal to explore ways for US deal
Commerce and industry Minister Piyush Goyal’s visit to the US starting Tuesday is aimed at winning some concessions and paving the way for an Indo-US trade deal, including market access for Indian products.
Both sides are negotiating concessions for each other ahead of a wider agreement, ET learnt. India and the US are eyeing a trade deal with limited scope, but it is unlikely that one will be signed during Goyal’s visit.
The key US demands include fewer restrictions for its medical device manufacturers and solar panels, market access for other key products and lower import duties on a range of items.
Goyal will meet United States Trade Representative Robert E. Lighthizer and executives from the medical devices industry. “India should ensure that there is real market access for our products in the US market, other than better access for our service professionals, including their spouses.
Also, there should be chapters on e-commerce so as to benefit our SMEs and on investment facilitation to help our Make in India programme become more competitive,” Pradeep Mehta, secretary general of CUTS International, told ET.
CUTS International is a global public policy research and advocacy group with branches worldwide, including Washington, DC.
Price controls on medical devices, restoration of the Generalized System of Preferences, duty cuts on Harley-Davidson motorcycles and mobile phones, along with market access to US agricultural commodities including almonds, nuts and berries have been on the agenda of the limited-scope trade deal being discussed as a pre-cursor to a larger agreement.