India and US agree to launch Strategic Trade Dialogue

On Thursday, External Affairs Minister S Jaishankar met with US Secretary of Commerce Gina Raimondo to discuss opportunities for further economic cooperation between India and the US. During the meeting, the two officials agreed to launch the India-US Strategic Trade Dialogue, which will be led by the Foreign Secretary from the Ministry of External Affairs of India and the Under Secretary, Bureau of Industry and Security in US Department of Commerce. The dialogue will address export controls, explore ways of enhancing high-technology commerce, and facilitate technology transfer between the two countries.

Raimondo was on her first visit to India as Secretary Commerce and highlighted the importance of the US-India bilateral relationship to the Biden Administration and the Department. She also mentioned ongoing collaboration and the potential for closer commercial ties through the US-India CEO Forum and the US-India Commercial Dialogue, which she co-hosted with Minister of Commerce and Industry Piyush Goyal.

The two officials discussed the India-US strategic partnership and efforts to deepen economic and commercial engagement between the two countries, including through the initiative on Critical and Emerging Technology (iCET) and the Indo-Pacific Economic Framework (IPEF). They also agreed on the need for increased bilateral strategic and high-technology trade to build resilient and trusted global supply chains.

The US Department of Commerce press release added that Raimondo thanked the Minister for India’s continued support on the Indo-Pacific Economic Framework for Prosperity (IPEF), and raised the importance of the Framework to enhance the economic competitiveness of the United States, India, and the other IPEF partners. The meeting between the officials was productive and highlighted the potential for greater cooperation between India and the US in areas of trade and technology transfer.