At a ministerial-level meeting of the US-India Trade Policy Forum (TPF), Kamal Nath, India's Minister of Commerce & Industry, and the U.S. Trade Representative Susan C. Schwab agreed on a number of initiatives to double two-way trade in three years to US$50 billion by 2008, reports www.myiris.com.

Schwab said that under the TPF, both countries will continue to make steady progress on key issues like improving the regulatory, customs and intellectual property protection regime to improve the bilateral trade and investment climate. Schwab and Nath said the two countries have agreed to initiate a Bilateral Infrastructure Investment Programme that will focus on identifying investment opportunities, incentives and challenges in key infrastructure sectors and address steps to address several sanitary and phyto-sanitary (SPS) issues. They have plans to promote innovation, creativity and technological advancement by creating an environment where the intellectual property rights are protected.

Continued discussions will focus on tariff structures to facilitate wine and spirits trade as well as emissions standards for large motorcycles. India and the US have also agreed on creating a senior-level private sector adjunct to TPF that will provide strategic direction, input and support to the Forum. TPF was launched during the July 2005 visit of Indian Prime Minister Manmohan Singh to Washington , D.C.