India-US to take economic relationship to the next high level (GS: 3 Economy)
- About: India-US held the 12th Ministerial-level meeting of the India-US Trade Policy Forum (TPF) in New Delhi to “develop an ambitious, shared vision for the future of the trade relationship”.
- Significance of TPF: Forging robust bilateral trade ties and enhancing the bilateral economic relationship benefit working people in both countries.
- Bilateral Trade Matters:
- TPF Working Groups on agriculture, non-agriculture goods, services, investment and IP to be activated to meet in order to address issues of mutual concern.
- Collaboration and constructive engagement in multilateral trade including WTO, G20 etc for achieving a shared vision of transparent, rules based global trade system.
- Creating resilient and secure supply chain
- Participation and collaboration of private sector(including cyberspace, semiconductors, AI, 5G, 6G), and supporting resilient and secure global supply chain,
- Significance of iP protection and enforcement for promotion of innovation as well as bilateral trade and investment in IP-intensive industries.
- Source: https://pib.gov.in/PressReleasePage.aspx?PRID=1774307