India welcomes US decision to upgrade trade ties

Sarkaritel
By Sarkaritel July 31, 2018 14:49


New Delhi, July 31  India on Tuesday welcomed the US’ decision to upgrade trade ties with it, saying it is a logical culmination to India’s designation as a Major Defence Partner of the US.

“We welcome the announcement made by US Secretary of Commerce Wilbur Ross in the Indo-Pacific Business Forum on July 30, 2018, about the US government’s decision to move India into Tier-1 of the Department of Commerce’s Strategic Trade Authorisation licence exception,” the External Affairs Ministry said in a statement.

“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,” it stated.

“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.”

India is the only South Asian nation to be put on this list.

Sarkaritel
By Sarkaritel July 31, 2018 14:49