New Delhi welcomes US decision on trade ties
According to media reports from Washing-ton, the US has elevated India's status as a trading partner equal to that accorded to its Nato-level allies.
New Delhi: India on Tuesday welcomed US decision to move India into Tier-1 of the department of commerce’s Strategic Trade Authorisation licence exception, saying it is “a logical culmination to India’s designation as a major defence partner of the US and a reaffirmation of India’s impeccable record as a responsible member of the concerned multilateral export control regimes”. New Delhi said the “step would further facilitate India-US trade and technology collaboration in defence and high technology areas”.
In a statement, the MEA said, “We welcome the announcement made by US secretary of commerce Wilbur Ross in the Indo-Pacific Busine-ss Forum on July 30 about the US governme-nt’s decision to move In-dia into Tier-1... It is a logical culmination to India’s designation as a major defence partner of the US and a reaffirmation of India’s impeccable record as a responsible member of the concern-ed multilateral export control regimes. This step will further facilitate India-US trade and technology collaboration in defence and high technology areas. We look forward to the US side operationalising the decision at an early date.”
According to media reports from Washing-ton, the US has elevated India’s status as a trading partner equal to that accorded to its Nato-level allies.