Thaindian News

New Delhi, Apr 20 (ANI): Union Commerce Minister Anand Sharma today expressed optimism over the growing trade and investment relations between India and United States.During a bilateral meeting with Senators of different US province here, Sharma said: “The two countries have launched an initiative of integrating U.S. and Indian SMEs in the Global Supply Chain, which would create new opportunities for U.S. and Indian SMEs. “This in turn will help the large firms in the dynamic U.S.-India commercial relationship through greater public awareness, enhanced public-private collaboration, and a sharper focus on the benefits of large company and SME collaboration,” he added. Sharma also appreciated the development of the India-US Trade policy Forum (TPF), the arrangement between the two Governments to discuss trade and investment issues. He told the senators that, India and USA have signed a Framework for Cooperation in Trade and Investment. “The framework aims at facilitating trade and investment flows between the two countries, developing and implementing trade policies through transparent procedures that comply with international obligations, foster an environment conducive to technological collaboration and innovation and promote inclusive economic growth and job creation in the United States and India,” he added.Sharma observed that while renewing the dialogue in 2010, India has placed greater emphasis on investment opportunities in both countries especially in manufacturing and in areas of high technology, emerging technologies and collaborative research. Both the countries have agreed to work upon the India-US Technology Trade Agreement Proposal on Improving Logistics Infrastructure and Services in India -Stimulating contribution by the US private sector proposal on delivering urban infrastructure in India: Avenues for Indo-US participation. The India US Commercial Dialogue was signed on March 23, 2000 and is an institutional arrangement between US and Department of Commerce aimed at facilitating trade and maximizing investment opportunities across a broad range of economic sectors, including IT, infrastructure, biotechnology and services. (ANI)