Anand Sharma Meets USTR Michael Froman

Both Agree to Revive Ministerial Trade Policy Forum

The Union Minister of Commerce & Industry Shri Anand Sharma yesterday held bilateral discussions with the US Trade Representative Mr. Michael Froman in Washington. Shri Sharma and Mr. Froman discussed a range of bilateral issues from the perspective of advancing the agenda of India-US trade and economic engagement and strengthening of India-US Strategic Partnership. Mr. Froman welcomed India’s decision on reviewing the Preferential Market Access policy, and addressing concerns related to transfer pricing. Shri Sharma and Mr. Froman also exchanged views on elements of the Bali package.

Shri Sharma also raised the concerns of the Indian IT industry relating to some of the specific provisions of US legislation on Immigration reforms impacting the mobility of skilled professionals. Shri Sharma also underlined the strength of India`s Intellectual Property regime, its rule bound nature and its compliance with Trade Related Aspects of Intellectual Property Rights (TRIPS). Shri Sharma and USTR Mr. Froman agreed to revive the Ministerial Trade Policy Forum and convene its early meeting.

Shri Sharma also met the Chairman of the Senate Foreign Relations Committee Senator Mr. Robert Menendez, interacted with top American and Indian business leaders during a round table at National Association of Manufacturers; and addressed the 38th Annual Leadership Summit of the India-US Business Council.

In his key note address at the 38th Annual Leadership Summit of the US-India Business Council (USIBC), Shri Sharma noted that we are in the age of partnership between countries, governments, private enterprises and people. He emphasised that the reinvigorated National Manufacturing Policy of India provides immense commercial and investment opportunities for the US businesses. Shri Sharma also spoke about National Skills Mission that is targeted to upgrade skills of 500 million people in order to support the National Manufacturing Policy and achieve higher GDP growth. Shri Sharma also highlighted the specific elements of two way commercial engagement across a whole range of economic domains.

At the Roundtable at the National Association of Manufacturers, Shri Sharma spoke of the key constituents of India`s National Manufacturing Policy and the opportunities it presented for the US industry to forge business partnerships in India.

DS/RK

(Release ID :97178)

Ministerial trade policy forum revival to advance bilateral trade and address market access, transfer pricing, and immigration issues. Agreement to revive the Ministerial Trade Policy Forum to advance bilateral trade, including India's review of Preferential Market Access, concerns on transfer pricing, and elements of the Bali package; discussions also covered immigration reform impacts on IT skilled mobility and India's TRIPS-compliant intellectual property regime, alongside promotion of the National Manufacturing Policy and National Skills Mission as opportunities for commercial engagement.