India and the United States have agreed to work constructively to resolve key outstanding bilateral trade issues and to take a comprehensive look at ways to expand the trade relationship, the Biden administration has said.
United States Trade Representative Katherine Tai discussed the important trade and investment relationship between the two countries during her maiden phone call with her Indian counterpart Commerce and Industry Minister Piyush Goyal. “They committed to strengthening cooperation on shared objectives and to revitalise engagement through the US-India Trade Policy Forum. They also agreed to work constructively to resolve key outstanding bilateral trade issues and to take a comprehensive look at ways to expand the trade relationship,” the United States Trade Representative (USTR) said in a readout of the call on Thursday.
Tai, who was confirmed by the Senate only a few days ago, stressed the critical importance of cooperation on a broad set of issues, including digital trade, intellectual property, agriculture, labor, and climate and environment.
Tai and Goyal agreed to hold the next ministerial-level meeting of the Trade Policy Forum during 2021, the USTR said. Supreme Court upholds Tata Sons’ appeal in Mistry case
The Supreme Court on Friday set aside a 2019 order of the National Company Law Appellate Tribunal (NCLAT) which reinstated Cyrus Mistry as the executive chairman of the over $100 billion Tata Sons. It allowed Tata Sons’ appeal, holding that well-settled principles had been overturned by the NCLAT when it decided the dispute in the previous round.
“All the appeals filed by Tata Sons against Cyrus Mistry are allowed,” the bench headed by Chief Justice of India (CJI) SA Bobde added.
Mistry had succeeded Ratan Tata as chairman of Tata Sons in 2012 but was ousted four years later in a board meeti.
About the issues relating to valuation of shares and the Shapoorji Pallonji (SP) Group pledging its shares in Tata Sons to raise funds, the top court maintained that both parties were at liberty to raise these before appropriate forum and that the court would not pass any order.