By NNN-PTI,
New Delhi : India and the US will sign a crucial agreement on March 17, laying down fresh rules and objectives for mutual trade and investment.
Commerce and Industry Minister Anand Sharma said here yesterday that he would be going to Washington for signing of the Framework for Cooperation in Trade and Investment.
The two countries have been engaged in negotiating this pact for the last few years with an intention to remove impediments in their economic relations.
The US has been seeking greater market access in India and raising concern over protection of the intellectual property rights (IPR).
However, India has insisted that the country has an excellent record in protection of IPR.
In the fiscal 2008-09, India-US trade aggregated at about USD 39.71 billion.
The US was India’s third largest partner both in trade and investment in the last financial year.