WASHINGTON - United States Trade Representative Rob Portman and India’s Minister of Commerce and Industry Kamal Nath today announced the establishment of the United States-India Trade Policy Forum, a new mechanism to discuss bilateral trade and related issues. The two Cabinet-level officials will oversee meetings of the forum and guide its work.

"The US-India trade relationship is strong and growing," said Ambassador Portman "We anticipate much greater commercial activity in the goods and services areas as India’s economy grows and as it continues to open its market to international trade and investment.

"A bilateral United States-India Trade Policy Forum would ensure as our economic ties grow, our respective agendas receive the attention they deserve. Establishing this Forum demonstrates our mutual respect as trading partners and our commitment to work closely together. Through regular dialogue we hope to be able to resolve issues before they become problems," he added.

U.S. goods exports to India in 2004 were $6.1 billion, up 22.4 percent from the previous year. Imports from India were $15.6 billion, up 19.2 percent. India is currently the 22nd largest export market for U.S. goods (up from 24th in 2004). U.S. exports to India expanded by nearly 50 percent in the first five months of this year. The United States is India’s top export market.