India brings up issue of delay over US visa process for domestic businesses in Trade Policy Forum(TPF) with the US, persuading to expedite the processes for Indian businesses, according to an official statement on Saturday.
The issue was raised during the discussions in 14th TPF meeting on Friday which was co-chaired by the US Trade Representative Katherine Tai and Commerce and Industry Minister Piyush Goyal.
As per the official statement,India has already disclosed its concerns regarding the problems being faced by local businesses in getting timely visas for the US and has urged America to pace up the process in the TPF meeting.
Both the sides have agreed upon setting up a system to cut down some barriers with a view to boost up the mutual trade.The Indian side also called for lifting up the ban on exports of wild caught shrimps as the prohibition is affecting Indian fishermen and exports,the statement said.
To mitigate the non tarrif barriers,both ministers have mutually agreed upon establishing a Joint Facilitative Mechanism (JFM).This will help both the countries look down at mutually recognising results from International Laboratories and establish recognition arrangements on a bilateral basis whenever possible.
India has also emphasized on the need to increase the number of audits by the US Food and Drug Administration (USFDA) in India to reach the pre-pandemic level as the US is India’s top export market for pharma products.
USFDA had stopped conducting inspections and audits in India for a long period, and resumed later, which resulted in a huge backdrop affecting product/unit approvals.
This agreement is one of the key factors for india as it will significantly contribute towards enhancing services trade between countries and help Indian IT professionals who work in the US on part time basis. More to that, the ministers agreed to launch future joint initiatives in areas, including critical minerals, customs and trade facilitation, supply chains, and trade in high-tech products.
