Indo-U.S. ties must be more ambitious, vie for frictionless trade relationship: Ambassador Garcetti

U.S. Ambassador Garcetti urges India and U.S. to strive for ambitious, frictionless trade relationship. He called for reduction of tariffs and a more predictable regulatory environment. He also pitched for robust agriculture trade and partnerships in commercial space segment. He stressed importance of sharing technology and co-development of technologies in sectors like defence.

India and the US need to strive towards a more ambitious and frictionless bilateral trade relationship, U.S. Ambassador to India Eric Garcetti said in New Delhi on Tuesday.

Speaking at the 20th Indo-U.S. Economic Summit organised by the Indo-American Chamber of Commerce, Mr. Garcetti lauded the recently concluded G-20 Summit in New Delhi, saying India has demonstrated its global leadership through the "most successful" G-20 in the history of the organisation.

The theme of the 20th Indo-U.S. Economic Summit is 'Sharing ideas and potential for a sustainable partnership between India and the U.S. for the next 25 years'.

"The goal that we should be setting for each other is how can we be more ambitious. Not just settle for another deal, not just settle for as we have done in the last few months bringing down the retaliatory tariffs and trade disputes between our countries. That's not good enough.

"I think we need to close our eyes and dream of what this relationship can be like even more than we would imagine today. How can we create a frictionless relationship?” Mr. Garcetti said.

Noting that there is a need to do away with even the smallest of friction between the two countries in terms of trade, he called for a reduction of tariffs and the creation of a more predictable regulatory environment.

He also pitched for a robust agriculture trade between India and the U.S.