India and US Hold 11th Trade Policy Forum Meeting in Washington D.C. On October 26TH
The 11th Trade Policy Forum (TPF) Meeting was held in Washington D.C. on 26th October 2017. The Minister for Commerce and Industry, Shri Suresh Prabhu had productive discussions with the United States Trade Representative.
- India has made significant investments in the US and Indian skilled workers and students make important contributions to the US economy.
- India has already started to import crude oil and new Liquefied Natural Gas exports are expected to commence early next year.
- Indian aviation companies such as Spicejet and Jet Airways have placed orders for over 300 aircrafts valued at several billions of dollars.
- The Minister for Commerce and Industry strongly took up the Indian concern with regard to problems faced by Indian services companies in obtaining H-1B and L-1 visas.
- The Minister for Commerce and Industry also highlighted the series of economic reforms undertaken by Prime Minister Modi, such as Goods and Services Tax, Make in India, Startup India and ‘Fund of Funds for Startups’ (FFS), Digital India, e-commerce, promoting innovation and entrepreneurship, FDI reforms, improved business and investment climate which have led to significant investment inflows into India.
- While responding to U.S. concerns on price controls on medical devices, the Minister for Commerce and Industry mentioned about the need to bring about a balance between the demand for optimum medical facilities and affordable health care to its citizens.