US-India trade policy forum rescheduled to next year – here’s why

The decision has been taken into consideration for the upcoming US midterm elections in November this year.

“It’s a critical midterm election that will determine the makeup of the next United States Congress, the outcome should give India clarity on US political landscape,” an Indian official told ANI.

Another person familiar with the developments informed ANI that postponing TPF was by ‘mutual’ consent between India and the United States.

However, the political engagements will continue in the days ahead, said the official, adding that some of the Biden administration’s top officials, including US treasury secretary Janet Yellen and commerce secretary Gina Raimondo, are likely to be in New Delhi on November 8 this year and February 13.

Raimondo will interact with Goyal and discuss ways of strengthening the India-US trade and economic partnerships. On the other hand, Yellen will meet with Indian Finance Minister Nirmala Sitharaman, as per ANI reports. 

Earlier this year, Piyush Goyal announced that the two countries will hold the next Trade Policy Forum during his visit to Los Angeles for the first Indo-Pacific Economic Framework (IPEF) ministerial. 

The Trade Policy Forum is a premier forum to resolve trade and investment issues between India and the US. It has five focus groups: Agriculture, Investment, Innovation and Creativity (intellectual property rights), Services, and Tariff and Non-Tariff Barriers. Last TPF was held in New Delhi. 

Meanwhile, the Biden administration also plans to deepen its defence ties with India to improve its ability to counteract Chinese aggression and resolve coercion in “grey zones” such as disputed land borders. 
 

(With ANI inputs)