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We India Must Go From Zero Sum And Unlock Opportunities, Says Katherine Tai Of Ustr

On November 23, Commerce Minister Piyush Goyal and United States Trade Representative (USTR) Katherine Tai relaunched the Trade Policy Forum (TPF) and agreed to engage on issues that affect trade between the two countries. . Bilateral trade between India and the United States is expected to exceed $ 100 billion this year.

In an exclusive interview with CNBC-TV18, USTR Katherine Tai said that the United States and India have always ended up wrestling over trade issues. She said the two countries need to move from a zero-sum relationship to a value-added relationship.

“Traditionally, when the United States and India walk into a room to talk about trade, we always end up locking the horns. So I would focus on how we can better manage the areas where we have tensions and where we can unlock opportunities to capitalize on the interest we share. Traditionally, our engagement boils down to a dynamic that looks a lot like a zero-sum interaction. I think we really have to adapt to thinking about the value we can create and add to everyone’s economies and that’s where I would focus. “

According to Tai, the trade relationship between the United States and India has enormous potential but has always underperformed.

“India and the United States have always been a relationship with immense potential and yet, in our traditional engagement, we have always managed to underperform that potential. What we really need to do is tailor our engagement to each other so that we can explore all of the opportunities for collaboration that we’ve missed before. “

USIBC President Nisha Biswal believes that the US-India trade relationship is growing in importance but is far from reaching its potential.

“Trade relations between the United States and India have grown in importance for both countries. Trade between the United States and India has grown significantly over the past decade, but it is well below the potential that exists for both countries. between the United States and India to remove some of the trade barriers and facilitate much higher levels of investment and two-way trade in goods and services. “

Watch the video to learn more.

(Edited by : Shoma bhattacharjee)


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