- Convening a Track 1.5 event by the new govt even during its first 100 days will help initiate conversations on accomplishing the proposed $500 billion in bilateral goods and services trade between India and US.
- Vital steps towards the same would require both the govts to take tough decisions and sign a Bilateral Investment Treaty (BIT) which could potentially produce much larger trade results
- Both bilateral trade in goods and services and US exports to India (manufactured goods, transportation equipment, chemicals, education services) have witnessed an average growth rate of 15% per year.
- India’s top exports to the US were manufactured goods, chemicals, apparel and textiles and information technology services.
- Read at: http://www.thehindu.com/todays-paper/tp-business/we-need-to-push-forward-talks-on-bit-powell/article5949849.ece