India, U.S. talks on strengthen trade ties

India-US trade in goods and services had risen to around $115 billion in 2016 from $109 billion in 2015, according to U.S. government data, and the aim is to raise this to $500 billion in the coming years.

Trade talks

  • Government and industry representatives from both the nations will hold talks during the ‘Annual West Coast Summit’ in Menlo Park, California.
  • To identify opportunities in sectors such as infrastructure, digital technologies and smart cities even as commercial ties have soured by the recent visa and intellectual property (IP) issues.
  • Also focus on financial services, virtual currencies, clean energy, healthcare and manufacturing from a technology partnership perspective.
  • Mega trade expo called Glorious India in New Jersey on May 27-28, which focus on garments, gems and jewellery, travel & tourism and real estate.
  • Glorious India : About 400 companies from India will take part in Glorious India’backed by the Indian Commerce and Industry Ministry and Tourism Ministry

Annual West Coast Summit

  • Summit will be an opportunity to discuss current and pertinent issues in the U.S.-India technology partnership such as IoTs, Smart City planning, India’s move towards a cashless economy and the future of U.S.-India technology relationship.
  • Agenda includes discussions on:

    • U.S.-India Strategic Partnership
    • India’s Vision for Smart City Planning
    • Investment Opportunities in Food Retail & Food Processing
    • Fulfilling Digital India and the future of U.S.-India Technology Partnership

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