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New Delhi: Commerce and Industry Minister Piyush Goyal is likely to undertake another visit the US from November 14, in yet another attempt to clinch a small trade package of sorts that could pave the way for a larger trade pact between New Delhi and Washington.

The visit comes within just two months of Prime Minister Narendra Modi’s trip to the US when he met President Donald Trump twice. Goyal had also joined the PM on that trip during which he met US Trade Representative Robert Lighthizer.

When Goyal goes to the US in November, he will have to keep in mind the anti-trade rhetoric going on within his domestic constituency as India only recently rejected the Regional Comprehensive Economic Partnership (RCEP), sources told ThePrint.

As a result, Goyal is not in a much comfortable position as far as offering concessions to the US on bilateral trade is concerned. However, he will be batting for the restoration of Generalised System of Preferences for Indian goods, which Washington had revoked in May this year, said the sources.

In turn, US might ask for an assurance from India on relaxing price control caps on high-end American medical devices. The US is also expected to ask India to go for further duty cuts on Harley Davidson motorcycles and enhance market access for some of its agricultural goods, added the sources.

Also read: Global economy’s in a better place after US Fed rate cuts, trade deal hope: Raghuram Rajan

Second meeting between Goyal and Lighthizer

Goyal met Lighthizer in September this year when the former visited New York to join PM Modi’s delegation.

Both Goyal and Lighthizer have since spoken several times on the phone to discuss the possibility to close in on some of the outstanding issues to be followed by the launch of talks for a larger free trade agreement (FTA) at a later date.

Earlier this week, Goyal had said India is currently exploring trade agreements with the US where Indian industry and services will be competitive and benefit from access to large developed markets.

Both sides had come very close to signing a watered-down deal in September itself even as the larger issues were kept aside for future talks. However, India did not relent to America’s request to lower tariffs on information and communication technology (ICT) products and also on the issue of medical devices.

No annual trade dialogue for 2 years

India and the US have not been holding their annual trade dialogue, known as the US-India Trade Policy Forum, for over a year now. This is the second year in a row that the US-India Trade Policy Forum has not met. It was supposed to meet last year, but didn’t. This year too, the meeting has not been convened so far.

Sources said the trade dialogue will take place only when the Donald Trump administration is confirmed of the fact that New Delhi will indeed sign a trade deal with Islamabad.

India’s exports to the US in 2018-19 stood at $52.4 billion, while imports were $35.5 billion. The trade balance is in favour of India.

Also read: Narendra Modi rejecting RCEP shows Swadeshis and Left think alike on trade

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