Photo: India Today
Union Commerce Minister, Piyush Goyal, on Thursday stressed that the Indo – US was better than ever before. Goyal was speaking at the World Economic Forum’s ‘India Economic Summit’ in New Delhi. He further said the understanding between the two countries has increased in the recent past.
Showing his agreement over emerging challenges, Goyal said India and US are engaging in a healthy way to improve trade relations. “India has an important role to play in the field of trade as it is the largest democracy in the world with spiraling demand for products”, the Minister added.
Goyal said trade is one aspect of a "multi-dimensional relationship" when asked about the reasons holding back Indo-US trade ties.
"Trade is not something that is to be decided for one transaction. Trade has to consider the past, present, and future, political dynamics, local issues, long-term issues, bilateral and multilateral commitment. So I think it's a very complex story," the Minister added.
Goyal said, “India has an important role to play in the field of trade as it is the largest democracy in the world with spiraling demand for products. India is going to be an important player in the world's growth engine, trade between India and US is robust”.
Further he went on saying that the Indo-US trade is at a reasonable level but added that the true potential is yet to be reached.
US Secretary of Commerce Wilbur Ross, who also participated in the session, indicated that a trade deal between the two giant economies will soon take a new shape.