INDOUS-LD TRADE 2 LAST

When asked whether both the sides discussed about the When asked whether both the sides discussed about thebilateral investment treaty (BIT), Pritzker said a highstandard US-India BIT will provide real economic benefits toboth the countries and will significantly boost India toattract investments from America. "But it is not in anyone’s interest or neither of ourinterest to negotiate an agreement that does not meet thosehigh standards," she said. Pritzker also said the US has made enormous progress infacilitating financing for energy and infrastructure projects,investments in smart cities, supporting small businesses,innovation and entrepreneurship. On BIT, Sitharaman said the model text was shared with theUS authorities and "we certainly want to have inputs comingfrom them based on that we would like to continue the dialoguetowards BIT". Giving a statement at the joint press briefing, she said anumber of recommendations made during the previous twoeditions of S&CD have already been acted upon. Based on the CEO forum recommendations, India and the UShave agreed to take a focused intervention in several areas. "We have launched a transparent government e-market place(GeM). We have agreed to look at best practices exchange withGSA, Advantage which deals with government procurement in theUS," she said. India and the US will work on best practices onprocurement models and will look at collaboration between theDepartment of Expenditure and USTDA. Taking forward innovation and entrepreneurship workstream, both the countries agreed to focus on small and mediumscale enterprises. "We would be looking at creating a platform for sharing ofbest practices and technology as also address issues offinance and market access for SMEs and thus promote theirintegration into global value chains," Sitharaman said. Both the leaders also agreed on a programme called’Silicon Valley comes to India’ which will have experts fromthe US coming to India to interact with start ups and providethe required momentum to Indian entrepreneurial eco-system. During the S&CD, Pritzker and Sitharaman reviewed theprogress made since the last meet under the four work streamsrelating to infrastructure collaboration and smart cities,ease of doing business, innovation and entrepreneurship andstandards. Both sides welcomed the addition of travel and tourism asa new work stream for future collaboration. "We have decided to work together to see how US companiesand investment bodies tap the opportunity of IndiaÂ’sinfrastructure projects through mechanisms like the NationalInfrastructure and Investment Fund," she said. Both sides will also facilitate collaboration in researchin health sector, specifically focusing on non-communicablediseases like cardiovascular ailments, diabetics and cancer,she added. PTI RRABK