India, US Agree to Discuss India's New Tech Import Restrictions
India's Commerce Minister Piyush Goyal told U.S. Trade Representative Katherine Tai that he will "find a solution that addresses both countries' concerns" when it comes to India's new import licensing regime for technology imports. The new system is supposed to go into effect Nov. 1; U.S. technology companies have said it will hurt their exports to India (see 2308170028).
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Tai met with Goyal in New Delhi just after the G-20 trade ministers meeting, held in Jaipur, India. Her office released a readout of the meeting on Aug. 26.
"The ministers noted the intensified cooperation and partnership between the United States and India over the last several years," the summary said, including India dropping tariffs on U.S. chickpeas, lentils, almonds, walnuts, apples, boric acid, and diagnostic reagents.
Goyal tweeted, "Discussed key bilateral issues of mutual interest & explored ways to give further impetus to the growing India-US partnership through enhanced trade & investments."