“The United States noted its support for India’s ambitious goal of reaching 20 percent ethanol blending with petrol by 2025 and expressed an interest in supplying ethanol to India for fuel purposes,” a joint statement from the countries informed.
This came as Indian Minister of Commerce and Industry, Piyush Goyal and US Trade Representative, Ambassador Katherine Tai co-chaired the TPF meeting today.
The Ministers also agreed to explore ways for enhancing collaboration for the implementation of their respective ethanol blending programs.
In June 2021, Prime Minister Narendra Modi released the report of the expert committee on the roadmap for Ethanol Blending in India by 2025.
The report lays out an annual plan for the gradual rollout of E20 ethanol in the country.
It suggests specific responsibilities of Union Ministries, State Governments and vehicle manufacturers for the production, supply and gradual rollout of 20 per cent ethanol blending in petrol by 2025, NITI Aayog informed in a statement.
The roadmap also purposes milestones like; Raise pan-India ethanol production capacity from the current 700 to 1500 crore litres; Phased rollout of E10 fuel by April 2022; Phased rollout of E20 from April 2023; Rollout of E20 material-compliant and E10 engine-tuned vehicles from April 2023, NITI Aayog informed.
Meanwhile, India and the US also agreed to work in several more areas in the future.
The Ministers expressed an intent to continue to work together on resolving outstanding trade issues as some of these require additional engagement.
The Ministers also reviewed their particular interests for achieving progress in the area of market access.
In this regard, India highlighted its interest in the restoration of its beneficiary status under the US Generalized System of Preferences program.
During the TPF meeting, the US also acknowledged India’s work in making medical devices available at affordable rates and
“The US side acknowledged the work being done by the Indian side to strike a balance between access to medical devices at affordable rates and the availability of cutting-edge medical technology,” a joint statement from the US and India informed.
“In this regard, the US welcomed the recent application of the Trade Margin Rationalization (TMR) approach for price regulation on certain medical device products and India noted that wider application of TMR for other medical devices is under consideration by the relevant authorities,” the statement added.
Both ministers also noted that the movement of professional and skilled workers, students, investors and business travellers between their countries contributes immensely to enhancing bilateral economic and technological partnership.
In this respect, the Indian side welcomed the recent US decision to allow travel to the United States by fully vaccinated Indians.
The Ministers exchanged views on harnessing the vast potential of digital trade to spur economic growth and innovation and committed to working together to build a common understanding.
The Ministers also agreed to further engage to find mutually agreed solutions on outstanding WTO disputes between the two countries, the statement informed.