Trade in goods and services between India and the US has grown 12.6 per cent. US companies raised concerns about India’s draft e-commerce policy and issues related with mandatory data localisation requirements. They feel the draft e-commerce policy favors domestic players and does not provide a level-playing field for US firms such as Amazon and Walmart. India on the other hand has raised the issue of high import duties imposed by the US on certain steel and aluminium products. Besides, India also wants the US to relax visa provisions for Indian IT professionals and companies. The countries are locked in a tariff dispute with the US deciding to end preferential trade treatment to Indian exports, while India proposes to impose retaliatory duties on American goods. Other matters include the US concerns on medical devices, the personal data protection bill of India.

But both India and the US have agreed to engage regularly at various levels to resolve outstanding trade issues by exploring mutually beneficial and suitable solutions. The countries have agreed to deepen economic cooperation and bilateral trade by ensuring greater cooperation among stakeholders, including governments, businesses and entrepreneurs. They will explore suitable solutions, which are mutually beneficial and promote economic development and prosperity in both countries.