State Dept. Official Says Indian Economic Reforms Helping Grow Bilateral Trade
Indian economic reforms such as passage of its Goods and Services Tax are helping the U.S. and India move toward their shared goal of increasing the value of yearly bilateral trade, from $100 billion currently, to $500 billion, a senior…
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State Department official said during a briefing previewing Secretary of State John Kerry’s visit to India and Bangladesh this week (here). “Clearly, for two-way trade to reach that level, much needs to happen in terms of trade and economic reforms, and we have seen some movement in that direction,” the official said. “We think that further reforms will only help unleash greater trade and investment, which is something that I think will benefit the people of both countries.” Additionally, the U.S. is pursuing civil nuclear cooperation with India “aggressively and ambitiously,” as firms continue to work through associated matters with the government of India, the official said.