India's Exports Must Contribute USD One Trillion To Economy Says Commerce & Industry Minister Piyush Goyal
Commerce and Industry Minister Piyush Goyal met United States Ambassador to India Kenneth Juster here on Friday.
The US is one of India's largest trading partners and the strategic partnership between the two countries have strengthened significantly over the past two decades.
Trade-related differences have emerged between New Delhi and Washington in recent month. US President Donald Trump has repeated raised the issue of India putting high import duties on American products.
The trade tensions had escalated on June 5 when Washington rolled back the privileges that New Delhi was enjoying under their GSP or Generalised System of Preferences programme.
The GSP, implemented since 1974, is the largest and oldest US trade-preference scheme and it allows duty-free imports for thousands of products from designated beneficiary countries.
On its part, India had imposed retaliatory tariffs on 25 American goods, less than two weeks after the Trump administration announced an end to the preferential trade treatment for India.
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