US Ambassador calls for more ambitious, frictionless India-US trade relations

India and the US need to strive towards a more ambitious and frictionless bilateral trade relationship, said US Ambassador to India Eric Garcetti on Tuesday. He made this statement during the 20th Indo-US Economic Summit, organised by the Indo-American Chamber of Commerce.

India's global leadership role

Garcetti praised India's global leadership role, particularly highlighting the recently concluded G20 Summit in New Delhi, which he described as the "most successful" in the history of the organisation.

Speaking on the theme of the summit, 'Sharing ideas and potential for a sustainable partnership between India and the US for the next 25 years,' Garcetti urged both nations to aim for a more ambitious relationship. He stressed the importance of eliminating even the smallest trade frictions and called for a reduction in tariffs and the establishment of a predictable regulatory environment.

Agricultural trade 

Garcetti also advocated for robust agricultural trade between India and the US, expressing a desire for India to become one of the United States' top three markets globally. He acknowledged the successful landing of Chandrayaan-3 on the southern pole of the Moon and highlighted the growing partnerships in the commercial space sector between the two countries.

The Ambassador emphasised the significance of technology sharing and co-development in sectors such as defence, where India and the US have already established strong ties.

(With PTI Inputs)