​​​NEW DELHI

India and the US formed a new working group on "Resilient Trade" with the goal of promoting sustainable trade, said an official statement issued on Thursday.

The Resilient Trade initiative was launched on Wednesday during Indian Commerce and Industry Minister Piyush Goyal's two-day visit to the US, where he attended the 13th ministerial meeting of the India-US Trade Policy Forum (TPF).

Goyal and US Trade Representative Ambassador Katherine Tai co-chaired the meeting, and they also held a one-on-one meeting prior to the delegation-level talks, said the joint statement issued by the Indian Ministry of Commerce and Industry.

They underlined the significance of the TPF in forging robust bilateral trade ties and enhancing the bilateral economic relationship to benefit working people in both countries.

They were pleased that bilateral trade in goods and services continued to grow rapidly, reaching approximately $160 billion in 2021, the statement said.

On Thursday, Goyal tweeted that efforts to reach a bilateral settlement for outstanding WTO disputes were among the six key issues discussed at the 13th India-US Trade Policy Forum.

He stated that the new trade group will "help sustainable trade ties."

He added that he discussed several issues of mutual interest with Ambassador Tai during their meeting.

"Explored how our complementarities can further forge robust trade and investment ties to strengthen our multifaceted partnership," he stated.