Following the outcome of the US midterm elections, Gem & Jewellery Export Promotion Council (GJEPC) Chairman Mr. Kirit Bhansali has highlighted the importance of continued India–US bilateral engagement and an early conclusion of the proposed Bilateral Trade Agreement (BTA). Emphasising the United States’ position as one of India’s leading gems and jewellery markets, he expressed hope that sustained dialogue between the two governments would strengthen trade relations, address outstanding concerns and provide greater certainty for exporters in both countries.
QUICK SUMMARY
- GJEPC Chairman Mr. Kirit Bhansali commented on the outcome of the US midterm elections and its potential implications for India–US trade relations.
- The United States remains one of India’s leading markets for gems and jewellery.
- GJEPC emphasised the importance of continued bilateral engagement between India and the US.
- The proposed India–US Bilateral Trade Agreement (BTA) is expected to provide greater certainty to businesses.
- The statement highlighted the importance of addressing outstanding trade concerns through constructive dialogue.
- An early conclusion of the BTA could strengthen bilateral trade and support gem and jewellery exporters in both countries.
GJEPC Chairman Highlights Importance of Continued India–US Trade Engagement
Statement by Mr. Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), on the outcome of the US midterm elections and its potential implications for India–US trade relations, particularly the proposed India–US Bilateral Trade Agreement (BTA).
Proposed India–US Bilateral Trade Agreement and Its Significance
The statement highlights the importance of continued bilateral engagement and an early conclusion of the BTA to provide greater certainty and strengthen trade ties for the gem and jewellery sector.
US Midterm Elections and India–US Trade Relations
“The outcome of the US midterm elections is an important development in the country’s political landscape. The United States remains one of India’s leading markets for gems and jewellery, and we look forward to continued engagement between the two countries to strengthen this important trade relationship.
Impact of Congressional Changes on Trade Policy
While the change in the composition of Congress may influence the legislative environment and discussions on trade policy, we remain hopeful that the momentum towards the proposed India–US Bilateral Trade Agreement (BTA) will continue. The tariffs introduced earlier were executive measures and were not enacted through congressional legislation. We believe sustained dialogue and constructive engagement between the two governments will help address outstanding trade concerns.
Call for an Early Conclusion of the BTA
We look forward to an early conclusion of the BTA, which would provide greater certainty to businesses, strengthen bilateral trade and support the long-term interests of gem and jewellery exporters in both countries.”
– Mr. Kirit Bhansali, Chairman, GJEPC
FAQs
Who is Mr. Kirit Bhansali?
Mr. Kirit Bhansali is the Chairman of the Gem & Jewellery Export Promotion Council (GJEPC).
What did GJEPC Chairman Kirit Bhansali say about the US midterm elections?
He highlighted the importance of continued India–US engagement and expressed hope that the proposed Bilateral Trade Agreement (BTA) would maintain momentum.
What is the proposed India–US Bilateral Trade Agreement (BTA)?
The India–US BTA is a proposed trade agreement aimed at strengthening bilateral trade relations and providing greater certainty to businesses in both countries.
Why is the US important for India’s gem and jewellery sector?
The United States remains one of India’s leading markets for gems and jewellery, making the bilateral trade relationship important for exporters.
How could the BTA benefit India’s gem and jewellery exporters?
An early conclusion of the BTA could provide greater business certainty, strengthen bilateral trade and support the long-term interests of gem and jewellery exporters in both countries.
What is GJEPC’s position on the trade concerns between India and the US?
GJEPC supports sustained dialogue and constructive engagement between the two governments to address outstanding trade concerns.
Source: SVAR Media Network
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