Washington, June 06: The India-US bilateral change product and services has crossed the elusive $100 billion threshold and currently stands at $103 billion, US envoy Richard Verma said here on Sat, adding that each countries still have a protracted way to traverse to succeed in the goal of $500 billion.

Addressing the middle for Strategic and International Studies, Verma said the goal of $500 billion is accomplishable.

Both sides have restarted the trade policy Forum, “which is transferral along Indian and american trade consultants to handle issues across a spread of sectors”, he said.

On intellectual property, a technical team of Indian consultants can visit Washington for more discussions on how to improve IP protection. “We still seek for ways that to reinforce the surroundings for innovation during a manner that promotes our shared interests,” he said.

He said through the US State Department’s Indo-Pacific Economic Corridor (IPEC) initiative, “we are supporting larger regional economic property between India and its neighbours, complimenting Prime Minister Modi’s ‘Act East’ policy”.

“Through programs aimed at enhancing energy cooperation, building nearer people-to-people ties, stimulating trade facilitation and transportation and easing customs and borders, IPEC seeks to strengthen links among South Asian countries and with Southeast Asia,” he said.