Misri launches India-US trade facilitation portal

Washington: Foreign Secretary Vikram Misri on Wednesday launched the India-US Trade Facilitation Portal here as the two countries eye the USD 500 billion bilateral trade target.

Misri, who is on a three-day visit to the US, launched the portal at a virtual event that was attended by India’s Ambassador to the US Vinay Mohan Kwatra, and officials and trade representatives from the two countries. “It will serve as a bridge ensuring continuity and ensuring that existing supply chains are reinforced, and at the same time will enable new commercial linkages to emerge and grow,” Misri said.

In a video message to the inaugural function, Commerce and Industry Minister Piyush Goyal urged exporters and businesses in India and the US to make greater use of the India-US Trade Facilitation Portal to boost bilateral trade.

He also said that the bilateral trade is growing towards the USD 500 billion mark, an ambitious target set by both sides.

Goyal said that the portal is a “runway” to the US for domestic services exporters, and it will also provide opportunities across businesses, from a farmer in Punjab to a jeweller in Surat and a software expert in Bengaluru to pharma firms in Telangana.

Misri on Wednesday began his three-day visit to the US to meet with senior officials to review bilateral trade and defence relations and discuss global developments, including the crisis in West Asia.

Misri’s visit comes as both the US and India work to stabilise the ties after a spell of uncertainty and strain. The relations witnessed a major downturn after Washington imposed punitive tariffs on New Delhi and President Donald Trump made controversial assertions regarding his role in de-escalating the India-Pakistan military clashes last May. In February, the US and India reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Agreement).

Misri noted the efforts of the India’s Consulate General in New York in putting together the portal along with all the stakeholders, export promotion councils, industrial bodies, and government departments from India and the US.