• The India US trade deal could not make it’s way ahead despite Commerce Minister Piyush Goyal's presence in New York to conclude a trade package with US trade representative Robert Lighthizer.

• The Major reason for this setback is that the two side could not bridge the gap between their respective positions.

• The U.S. wanted greater access to Indian markets for medical devices, such as stents and knee implants, ICT and dairy products and sought the removal of price caps.
• The US had sought the removal of price caps (“Trade Margin Rationalization” or TMR) on medical devices and greater access for dairy products and some other categories of agricultural goods.

India’s Stand

• India wanted the reinstatement of preferential market access to U.S. markets under the Generalized System of Preferences (GSP) program, which was revoked in early June.
• India had also wanted facilitation of processes in agricultural product markets where it already had access (such as easier certification of food product irradiation facilities) and greater access in some agricultural markets.