NEW DELHI: India and the United States will engage regularly to resolve outstanding trade issues, the Indian government said, after US Commerce Secretary Wilbur Ross met his Indian counterpart Suresh Prabhu on Monday.

India and the United States are locked in disputes over tariffs, price caps India has imposed on imported US medical devices and over rules banning companies from selling products via firms in which they have an equity interest.

“Both sides agreed to engage regularly at various levels to resolve outstanding trade issues by exploring suitable solutions, which are mutually beneficial,” the government said in the statement.

US Commerce Secretary Wilbur Ross had said earlier on Monday he planned to discuss India’s new e-commerce rules that could have an impact on operations of firms such as Amazon and Walmart with his Indian counterpart on Monday.

India also prohibits companies from making deals with sellers to sell exclusively on their platforms, rules which could affect investment plans of foreign firms in India’s fast-growing market set to touch $200 billion by 2027.

“Both sides agreed to deepen economic cooperation and bilateral trade by ensuring greater cooperation amongst stakeholders, including government, businesses and entrepreneurs,” the government said.

Published in Dawn, May 7th, 2019