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India-U.S. Trade Policy Forum to be held before end of 2021

Updated: Sep 25, 2021 06:55:03am
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India-U.S. Trade Policy Forum to be held before end of 2021

New Delhi, 25 Sep (KNN) Prime Minister Narendra Modi and President Joe Biden discussed about the reconvening of the India-U.S. Trade Policy Forum before the end of 2021 in their first-ever in-person meeting since President Biden assumed office.

The leaders discussed on enhancing the bilateral trade relationship by addressing trade concerns, identifying specific areas for increased engagement and developing an ambitious, shared vision for the future of the trade relationship, and looked forward to convening the U.S.-India CEO Forum and the Commercial Dialogue in early 2022, leveraging the talents of the private sector.

They further discussed how the United States and India will work together to set sustainable and transparent rules of the road that will lift economies throughout the Indo-Pacific. They welcomed increased collaboration through the Coalition for Disaster Resilient Infrastructure and the upcoming Indo-Pacific Business Forum.

Affirmation for a clear vision that will guide the U.S.-India relationship forward was given by both the leaders: building a strategic partnership and working together with regional groupings, including ASEAN and Quad members, to promote shared interests in the Indo-Pacific region and beyond.

President Biden welcomed India’s announcement that it will resume exports of safe and effective COVID-19 vaccines including to COVAX. The Leaders also hailed the finalization of the overarching Memorandum of Understanding on Health and Biomedical Sciences to bolster cooperation on key areas affecting global health, including pandemic preparedness and biomedical research, to reduce the risk of future pandemics.

Prime Minister Modi welcomed U.S. leadership on climate action, including the return of the United States to the Paris Agreement.

President Biden expressed support for Prime Minister Modi’s intention to achieve a domestic goal of installing 450 GW of renewable power by 2030 and acknowledged the importance of mobilizing finance for investments in renewables, storage, and grid infrastructure that will guarantee clean, reliable power for millions of Indian households.

President Biden reaffirmed the strength of the defense relationship between the United States and India and the unwavering commitment to India as a Major Defense Partner through close defense engagements in information sharing, sharing of logistics and military-to-military interactions, strengthening cooperation in advanced military technologies, and expanding engagements in a multilateral framework including with regional partners.

As global partners, the United States and India resolved to further strengthen their collaboration in education, science and technology and people-to-people engagement. The Leaders welcomed close consultations through the 2+2 Ministerial Dialogue of the Foreign and Defense Ministers of India and the United States to be held later this year.

Reflecting shared values and principles, and growing strategic convergence, President Biden and Prime Minister Modi resolved to advance the U.S.-India Comprehensive Global Strategic Partnership, and looked forward to what the United States and India will achieve together.

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