US Secretary Of Commerce To Visit India From 7 To 10 March

The Ministry of Commerce and Industry on Monday said that US Secretary of Commerce Gina Raimondo will be visiting New Delhi between 7 to 10 March on the invitation of Union Commerce Minister Piyush Goyal. 

During the visit, India- USA commercial dialogue and CEO Forum will be held on 10 March 2023 to discuss cooperation in various sectors that could unlock new trade and investment opportunities between the two countries.

Notably, commercial dialogue is a cooperative undertaking encompassing regular government-to-government meetings to be held in conjunction with private-sector meetings, to facilitate trade, and maximise investment opportunities across a broad range of economic sectors.

Earlier, India-US CEO Forum was soft-launched by Indian Commerce and Industry Minister and US Secretary of Commerce on 9 November 2022 via video-conference for which identified key priorities were increasing supply chain resilience, enhancing energy security and reducing overall greenhouse gas emissions, etc, the statement read. 

Meanwhile, today, the two countries are leading trading partners of each other. India is the ninth largest trading partner for the US, while the US is India’s largest trading partner and the largest export destination. 

The bilateral trade in goods saw very robust growth during CY 2022, surpassing USD 131 billion in goods, thus doubling since 2014 (in 8 years) while total trade in Goods and Services is expected to cross USD 180 billion. 

The US is also the third biggest source of FDI for India and the USA is one of the top five investment destinations for India.