Katherine Tai, the US Trade Representative, is currently in discussions with her Indian counterpart, Piyush Goyal. The United States has recently emerged as India’s primary trading partner, with bilateral trade in goods and services reaching $192 billion in 2022. Tai’s top priority is addressing the trade deficit with India and securing increased market access for American agricultural products.
Mukesh Aghi, President & CEO of USISPF, emphasized in an interview with CNBC-TV18 that agriculture plays a crucial role in US-India trade relations. Aghi acknowledged India’s flexibility in managing these imports, understanding the sensitivity of the issue given the significant farmer community in the country.
Simultaneously, India is advocating for expedited visa processing for its professionals and businessmen, along with the restoration of the Generalized System of Preferences (GSP).
Aghi, however, played down the impact of GSP, stating that all the categories of goods under GSP are the fastest-growing exports into the US. He noted the progress in India’s ease of doing business over the past decade but highlighted ongoing concerns for US companies. Despite positive developments in recent years, Aghi believes there is still room for improvement on the ease of doing business front.