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India Hails US Move to Upgrade Trade Ties

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Prime Minister Mr Narendra Modi meeting the President of United States of America (USA), Mr. Donald Trump, in Manila, Philippines

India welcomed the US’ decision to upgrade trade ties with it, saying it is a logical culmination to India’s designation as a Major Defence Partner of the US… reports Asian Lite News

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U.S. Secretary of Commerce Wilbur Ross

“We welcome the announcement made by US Secretary of Commerce Wilbur Ross in the Indo-Pacific Business Forum on July 30, 2018, about the US government’s decision to move India into Tier-1 of the Department of Commerce’s Strategic Trade Authorisation licence exception,” the External Affairs Ministry said in a statement.

“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,” it stated.

“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.”

India is the only South Asian nation to be put on this list