14th TPF meet: USFDA inspections, social security top agenda as India, US go to trade policy talks
Trade Policy Forum (TPF) meet in New Delhi starting January 12. US Trade Representative Katherine Tai is on a three-day visit to India for this meeting.
Tai and Commerce and Industry Minister Piyush Goyal will co-chair the meeting.
On India's agenda are a number of key issues that include a social security pact, US audit of Indian pharma players, etc.
Other issues to be raised by India are: a) delay in visa; b) increasing exports of table grapes, pharma goods, and marine products such as wild caught fish and shrimp; c) reinstating the Generalized System of Preferences (GSP) status to India; d) export control regulations for high-tech products and technologies; more access for Indian mangoes to the American market, etc.
The two prime issues that will dominate the discussions this time are the social security pact and USFDA drug inspections in India, news agency PTI reported.
Social security pact
The Social security pact is also called a totalisation agreement.
It is one of India's long-pending demands. When in place, it will give social security to Indian professionals working in the US.
Under the provisions of the pact, dual social security deduction — both in the home country and in the nation where an individual works — will be done away with.
Essentially, «an expatriate in either country need not contribute to the social security scheme of the host country,» PTI reported citing the proposed agreement.
It will significantly benefit a large number of Indians, especially techies working in America. These individuals pay social security there, but are not able to get any benefit out of it.
India has already provided the other side with all the required info on this, PTI said quoting an official.
