India US Trade Policy Forum (TPF)

In News

• India and the United States held the 13th Ministerial-level meeting of India – United States Trade Policy Forum (TPF) in Washington, DC.
  • The meeting has resulted in a smoother, friendlier, and trusted environment for businesses to expand their trade and investment between the two countries

About India US Trade Policy Forum (TPF)

• TPF is a platform for continuous engagement between the two countries in the area of trade and to further bilateral trade and investment relations. 
• The Trade Policy Forum is a premier forum to resolve trade and investment issues between India and the US.
•  It has five focus groups: Agriculture, Investment, Innovation and Creativity (intellectual property rights), Services, and Tariff and Non-Tariff Barriers
  • The bilateral trade between the countries has increased to USD 119.5 billion in 2021-22 from USD 80.5 billion in 2020-21. India received USD 55.61 billion in foreign direct investment from the US between April 2000 and June 2022.
  • The two countries are also collaborating under the QUAD (Quadrilateral Security Dialogue), I2U2 (India-Israel/ UAE-USA) and IPEF (Indo-Pacific Economic Framework).
  • The I2U2 – comprising India, Israel, the UAE and the US – was established in October 2021.

Source:PIB