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Commerce Minister Piyush Goyal and US Trade Representative Katherine Tai have relaunched the Trade Policy Forum (TPF) and agreed to engage on issues which are affecting the trade between the two countries. The bilateral commerce between India and the US is expected to cross $100 billion this year.

Both the ministers directed the TPF Working Groups to develop, by March 2022, plans of action for making substantive progress, including identification of a set of specific trade outcomes that could be finalised for an inter-sessional TPF meeting to be held by mid-2022. Further, both sides expressed satisfaction over the robust rebound in bilateral merchandise trade this year (January-September 2021), which showed almost 50 per cent growth over the same period in the previous year.

Besides, the commerce ministry said the TPF could be the major platform for collaboration and cooperation in trade matters, resolving bilateral trade concerns and exploring important, emerging trade policy issues. India highlighted the importance of cooperation in health sector, and expressed interest in partnering with the US and allies in developing a secure pharmaceutical manufacturing base for augmenting global supply chains.