Speaking at the World Economic Forum’s India Economic Summit in New Delhi on Thursday, the Union Minister said, understanding between the two countries has increased. While agreeing that there are challenges, he added that India and US are engaging in a healthy way to improve trade relations.
The Minister said, India has an important role to play in the field of trade as it is the largest democracy in the world with spiralling demand for products.
US Secretary of Commerce Wilbur Ross, who also participated in the session, indicated that a trade deal between the two economies will happen soon.
He said that focusing bilaterally on eliminating artificial trade barriers will help both India and the US.
He also made it clear that the US’s focus is not just on reducing trade deficit but also to focus on increasing total trade with India.