Friday, Mar 29, 2024 | Last Update : 01:49 AM IST

  India   All India  01 Aug 2018  New Delhi welcomes US decision on trade ties

New Delhi welcomes US decision on trade ties

THE ASIAN AGE.
Published : Aug 1, 2018, 2:01 am IST
Updated : Aug 1, 2018, 2:01 am IST

According to media reports from Washing-ton, the US has elevated India’s status as a trading partner equal to that accorded to its Nato-level allies.

 New Delhi said the “step would further facilitate India-US trade and technology collaboration in defence and high technology areas.
  New Delhi said the “step would further facilitate India-US trade and technology collaboration in defence and high technology areas.

New Delhi: India on Tuesday welcomed US decision to move India into Tier-1 of the department of commerce’s Strategic Trade Authorisation licence exception, saying it is “a logical culmination to India’s designation as a major defence partner of the US and a reaffirmation of India’s impeccable record as a responsible member of the concerned multilateral export control regimes”. New Delhi said the “step would further facilitate India-US trade and technology collaboration in defence and high technology areas”.

In a statement, the MEA said, “We welcome the announcement made by US secretary of commerce Wilbur Ross in the Indo-Pacific Busine-ss Forum on July 30 about the US governme-nt’s decision to move In-dia into Tier-1... It is a logical culmination to India’s designation as a major defence partner of the US and a reaffirmation of India’s impeccable record as a responsible member of the concern-ed multilateral export control regimes. This step will further facilitate India-US trade and technology collaboration in defence and high technology areas. We look forward to the US side operationalising the decision at an early date.”

According to media reports from Washing-ton, the US has elevated India’s status as a trading partner equal to that accorded to its Nato-level allies.

Tags: trade ties