Senior officials of India and the US today held consultations on issues related to bilateral trade and investments.
"A meeting on trade issues between India and US was held today in New Delhi. The foreign nation was the second highest trading partner of India in 2017-18, registering the total trade of more than Rs 4,80,000 crore," the department of commerce said in a tweet.
The two-day meeting, starting from today, assumes a greater significance as India last week announced the decision to raise customs duties on as many as 29 products, including pulses as well as iron and steel products imported from the US as a retaliatory action against the tariff hikes by Washington.
These duties on US goods will take effect from August 4.
Issues pertaining to duty hike by America on steel and aluminium, review of export benefits to certain domestic products and visa tightening norms were on agenda for the meeting.
India's exports to the US in 2016-17 stood at USD 42.21 billion, while imports were USD 22.3 billion. The trade balance is highly in favour of India.
Disclaimer: No Business Standard Journalist was involved in creation of this content