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Opening up trade with India priority for the U.S.
Why is it in news?
- Opening up trade with India is a key priority of the Trump administration, a senior official of the U.S. State Department has said.
- Briefing reporters on the administration’s Asia-Pacific policy, Principal Deputy Assistant Secretary for South and Central Asian Affairs, Alice G. Wells — the highest ranking official for the region — also welcomed Pakistan Prime Minister Imran Khan’s statement in support of peace in South Asia.
Indian Ocean Conference
- Ms. Wells will be participating in the Indian Ocean Conference in Vietnam’s capital Hanoi on August 27-28, organised by think tank India Foundation.
- Delegates from 43 countries, including China, India, Singapore, Australia and Vietnam, are scheduled to participate in the event.
Strategic objective to Indo-American cooperation
- Bilateral trade is now at about $126 billion, an increase of more than $10 billion from last year.
- critical purchases by Indian firms in the aviation, commercial aviation sector; energy sector;
- Defence contracts from India for U.S firms now total $18 billion.
Source
The Hindu