India welcomes US decision to upgrade trade ties

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New Delhi, July 31 (IANS) India on Tuesday 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.

“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.”

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

–IANS

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