US-India trade package to conclude soon: Indian envoy

07 Jan '20

2 min read

Pic: Shutterstock

The United States and India are close to concluding a trade package that would offer enhanced market access to both countries, India’s outgoing ambassador to the US Harsh Vardhan Shringla recently told a group of Indian-American entrepreneurs. He, however, did not give an exact date on which the much anticipated trade deal would be signed.

Shringla said the signing of the trade package would pave the way for a much bigger bilateral trade deal, which will only benefit the companies of the two countries.

He was addressing the entrepreneurs during a farewell lunch organised last week for him by TiE DC, a regional chapter of the global non-profit membership and mentoring organisation for entrepreneurs, a news agency reported.

The trade deal was first announced by US President Donald Trump when he met Prime Minister Narendra Modi in New York in September on the sidelines of the UN General Assembly.

Trump on September 24 said his country will soon have a trade deal with India to boost economic ties between the two nations.

India- US bilateral trade has increased significantly in the last decade and it is expected to be over $160 billion by 2019, he said.

Fibre2Fashion News Desk (DS)

More Textiles News - United States Of America...