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They also said that both the countries should put in place a proper and strong mechanism to resolve trade related issues bilaterally so that they do not have to file complaints in the WTO.
India and the US have resolved six trade disputes at the World Trade Organisation, marking a significant step towards strengthening bilateral trade. Both countries have agreed to create a robust mechanism to address related issues bilaterally so as to avoid filing complaints with the WTO. India will abolish retaliatory customs duties on 28 American products.
India and the US have resolved six trade disputes at the World Trade Organization (WTO) through mutually agreed solutions. India has removed retaliatory customs duties on certain American products, such as almonds, walnuts, and apples. Commerce and Industry Minister Piyush Goyal called the move a "big victory" for both nations and said it marked the end of pending India-US disputes at the WTO.
On February 6, 2013, the US requested consultations with India concerning certain measures of India relating to domestic content requirements under the Jawaharlal Nehru National Solar Mission for solar cells and solar modules. America claimed that the measures appear to be inconsistent with global trade provisions.
We discuss why investing in India's IT sector continues to be an attractive and cost-effective proposition for foreign firms and global MNCs.