By India News Stream Staff
July 31, 2018
New Delhi:India on Tuesday hailed the US’ decision to upgrade trade ties with it, saying it is a logical culmination to India’s designation as a Major Defence Partner of the US.
“We welcome the announcement made by US Secretary of Commerce Wilbur Ross in the Indo-Pacific Business Forum on July 30, 2018, about the US government’s decision to move India into Tier-1 of the Department
of Commerce’s Strategic Trade Authorisation licence exception,” the External Affairs Ministry said in a statement.
Except India, no other South Asian nation has been put on this list.
“It is a logical culmination to India’s designation as a Major Defence Partner of the US and a reaffirmation of India’s impeccable record as a responsible member of the concerned multilateral
export control regimes,” the MEA stated.
“This step will further facilitate India-US trade and technology collaboration in defence and high technology areas. We look forward to the US side operationalising the decision at an early date.”