Key Points
The two countries have recently resolved seven trade disputes and are seeking to further open up trade between them..
The United States government is considering proposals by India for a pact on social security pertaining to non-resident Indians and to be granted treaty country status, which will open up new E1 and E2 visa options for Indian businessfolk travelling to American cities, commerce minister Piyush Goyal said on Saturday.ge..
Another impediment in services sector, which is in the process of resolution, is a social security totalisation agreement, the official said, adding that Indian labour ministry has recently provided data related to social security schemes to US authorities to facilitate a proposed pact..
The pact will avoid the double deduction of social security contributions from employees such as IT professionals in both nations and facilitate transfer of billions of dollars deposited in social security accounts of Indian workers staying temporarily in America on the work visa..
Goyal said he is hopeful for a bigger and brighter future of bilateral trade between India and the US, especially after the two successfully resolved seven outstanding disputes pending in the World Trade Organisation (WTO) through mutual negotiations, without resorting to any legal process..
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