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Wipro 404.95↓-2.20(-0.54%)

Revived trade policy forum stepping stone for India-US trade agreement

Both nations hope to reach some kind of understanding to resolve issues pertaining to agriculture, non-agriculture goods, services, investments, over the next six to eight minths

Shreya Nandi New Delhi

Premium

Piyush Goyal, US trade representative Katherine Tai

4 min read Last Updated : Nov 25 2021 | 6:51 PM IST

With India and its largest trading partner — the US — trying to iron out thorny issues under the newly revived trade policy forum (TPF), experts said it could be the first step towards inking a larger trade deal in future.

Bilateral trade-related concerns haven’t yet seen any resolution. With the Joe Biden administration taking over in January this year, and both nations becoming a strategic ally, forging stronger trade ties has become more paramount now than ever, even as the US has ruled out any free trade agreement (FTA) at this point in time.

“The relaunch of the TPF is a step in the right direction. It can also clear the decks for an FTA between both countries at a later stage,” said Arpita Mukherjee, professor at Indian Council for Research on International Economic Relations.