India close to concluding a commercial package with the United States: Shringla

WASHINGTON: India and USA UU. They are about to conclude a commercial package that would provide better market access for both countries, the outgoing Indian ambassador to the US. UU. Harsh Vardhan Shringla has said.

Shringla made the comments as he addressed a group of Indian-American businessmen during a farewell lunch on Friday organized by TiE DC, a regional chapter of the global nonprofit membership and mentoring organization for entrepreneurs.

We are close to concluding a commercial package that would provide better market access for both countries, Shringla said during the event.

However, the outgoing ambassador, who would assume his new mission as the next Foreign Secretary of India at the end of this month, did not give an exact date for the signing of the long-awaited trade agreement.

The trade agreement was first announced by the president of the United States, Donald Trump, when he met with the prime minister Narendra Modi in New York in September at the sidelines of the UN General Assembly.

Trump said on September 24 that his country will soon have a trade agreement with India to boost economic ties between the two nations.

Shringla said the signing of the commercial package will pave the way for a much larger bilateral trade agreement between the two largest democracies in the world, which only benefit the companies of the two countries.

We see many openings, he said.

Shringla, who is scheduled to leave for India later this month, said bilateral trade between India and the United States has increased significantly in the last decade and is expected to exceed USD160 billion in 2019.

Noting that there are many complementarities between the Indian economy and the US Ambassador said the American Indian entrepreneurs and, in particular, organizations like TiE DC play an important role in strengthening these bilateral ties not only between people but also economic and economic. strategic relationship

Ravi Puli, a TiE DC businessman, said that in almost a year, Shringla has had a huge impact on the India-United States relationship.

As ambassador, he has taken relations between the United States and India to a level where we all feel very proud and hope to take him further with his leadership as secretary of foreign affairs for India, he said.

The event was attended by eminent Indian-American businessmen from within and around Washington DC and the leaders of other chapters from different parts of the country.