AMCHAM – ICRIER Brainstorming Interaction: U.S.-India Economic Partnership
To welcome U.S. President Donald Trump’s visit to India, AMCHAM in association with Indian Council for Research on International Economic Relations (ICRIER) organized a brainstorming session on the U.S.-India economic partnership on February 25th in New Delhi. The panel included Mr. Sanjay Chadha, Additional Secretary, Ministry of Commerce & Industry, Government of India, Mr. Atul Dhawan, Honorary Secretary & Treasurer, AMCHAM and Partner, Deloitte, Prof. Anwarul Hoda, Chair Professor of ICRIER’s Trade Policy and WTO Research Program, Dr. Arpita Mukherjee, Professor, ICRIER and Ms. Ranjana Khanna, Director General CEO, AMCHAM. Dr. Rajat Kathuria, Director and Chief Executive, ICRIER was the moderator for the discussion.
Dr. Rajat Kathuria welcomed panelists and in his opening remarks highlighted that U.S.-India relations were at an all-time high and expressed desire that the visit by the U.S. President would lay a foundation for an FTA between India and the U.S. in the near future. Prof. Anwarul Hoda, in his remarks mentioned that the findings and recommendations by the Private Sector Advisory Group (PSAG) set up in 2007 to get industry feedback on the measures needed to improve bilateral trade and investment relations between the U.S. and India were never implemented in their full stride. Mr. Sanjay Chadha, in his remarks, pointed out that the trade deficit between India and the U.S. is gradually decreasing and also mentioned that the conventional calculation of bilateral trade excludes defense purchases, and when added, the deficit becomes narrower. He also told the participants that convergence towards issues have emerged but due to the interlinkages of the economies new issues crop up. The discussion saw wide ranging topics being discussed and questions asked. It included the reasons behind defense purchases being left out from the total trade calculations, Indo-Iran relations, requirements of the American companies to become a part of the supply chain, progress made in sectors like medical technology and agriculture and the role of MSMEs amongst others. Ms. Ranjana Khanna in her vote of thanks expressed gratitude towards the panelists and ICRIER.