New Delhi: There is a lot of discussions these days on bilateral trade between India and America. After the Trump administration took power, the US and India's trade relations have become very tense. Indian Ambassador to the US Harshvardhan Sringala has given a big statement on bilateral trade of both countries. He said that India and the United States can double their bilateral trade to $ 280 billion in five years. At present, both countries are negotiating to further their business.
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In March, US Trade Representative Robert Lighthizer had terminated the status of the beneficiary developing country given to India under their Common Preference Program. In response, India increased the import duty on 28 US products including almonds and apples imported from the US from June 5. Trade tensions between the two countries started escalating after US President Donald Trump complained that India's tariffs on US products were 'not acceptable'.
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Sringala said that bilateral trade between India and America has doubled in the last 10 years and it may double again in the next five years. "We are aiming to take bilateral trade to $ 280 billion in the next five years," said Sringala. He expressed confidence that the two countries will resolve their trade issues so that the strategic and economic partnership can be further enhanced. Let us know that PM Modi is on a tour of America.
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