india

Updated: Jul 12, 2019 23:35 IST

Indian and American officials held on Friday long discussions over trade relations, the first of anticipated meetings meant to iron out differences that have snowballed into tit-for-tat moves to increase tariffs on each other’s imports.

A team led by assistant US trade representative (AUSTR) for South and Central Asia, Christopher Wilson, was in Delhi for the meeting with senior officials of the commerce and industry ministry.

“Both sides discussed the broad contours of bilateral trade and commercial ties and agreed to continue their discussions for achieving mutually beneficial outcomes aimed at further growing the economic relationship and addressing mutual trade concerns,” the commerce ministry said in a statement.

According to an official who asked not to be named, the meeting involved a detailed stock-taking of all issues. Headway on any of the issues is likely only when commerce minister Piyush Goyal visits Washington for a trip that is yet to be scheduled, this person added.

“Met the US Trade Representative team today to strengthen India-US trade ties. We deliberated on several issues to take our deep, historic and strong trade relationship to the next level,” Goyal said in a tweet.

According to the ministry’s statement, the meeting was aimed at taking forward the discussions between Prime Minister Narendra Modi and President Donald Trump during their meeting at Osaka, on June 28.

Talks for a trade package between the two countries slowed after the US rolled back export incentives for India under their generalised system of preference programme with effect from June 5. From June 16, India imposed high customs duties on 28 US products in retaliation to customs duties imposed by America on certain steel and aluminium products.

The US has sought greater market access for its dairy products and a cut in customs duties in information and communications technology products, while American companies have also raised concerns over price cap on certain medical devices by India.