India-US trade in goods and services had risen to around $115 billion in 2016 from $109 billion in 2015, according to U.S. government data, and the aim is to raise this to $500 billion in the coming years.
Trade talks
- Government and industry representatives from both the nations will hold talks during the ‘Annual West Coast Summit’ in Menlo Park, California.
- To identify opportunities in sectors such as infrastructure, digital technologies and smart cities even as commercial ties have soured by the recent visa and intellectual property (IP) issues.
- Also focus on financial services, virtual currencies, clean energy, healthcare and manufacturing from a technology partnership perspective.
- Mega trade expo called Glorious India in New Jersey on May 27-28, which focus on garments, gems and jewellery, travel & tourism and real estate.
- Glorious India : About 400 companies from India will take part in Glorious India’backed by the Indian Commerce and Industry Ministry and Tourism Ministry
Annual West Coast Summit
- Summit will be an opportunity to discuss current and pertinent issues in the U.S.-India technology partnership such as IoTs, Smart City planning, India’s move towards a cashless economy and the future of U.S.-India technology relationship.
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Agenda includes discussions on:
- U.S.-India Strategic Partnership
- India’s Vision for Smart City Planning
- Investment Opportunities in Food Retail & Food Processing
- Fulfilling Digital India and the future of U.S.-India Technology Partnership