US Commerce Secretary Wilbur Ross, who was supposed to participate in the US India Commercial Dialogue on 14th February, had to cancel his India visit due to bad weather back home. A spokesperson of the US Department of Commerce said, "Due to inclement weather, technical problems that led to the cancellation of his flight, and other logistical issues, Secretary Ross regrets he is no longer able to attend the CEO Forum and Commercial Dialogue in person". Sources confirmed that he will participate in the CEO's forum and Commercial Dialogue via video conferencing. In his absence, US Ambassador to India Kenneth Juster would be leading the US delegation.

The Indo US Commercial Dialogue comes at a crucial time when both sides are trying to finalise a trade package. Sources involved with the preparation for this visit told CNBC TV18 that arriving at a trade package or any significant outcome was unlikely because of the US shutdown, though a few agreements, including one on tourism, may be signed.

CNBC TV18 has learnt that the US delegation is likely to strongly oppose the new FDI guidelines which affect the likes of Amazon and Walmart and RBIs data localization norms. The US is likely to push for greater crude oil exports to India and demand a roadmap for reducing the 22 billion dollar trade deficit.

India, on the other hand, is hoping for an exemption from steel and aluminium tariffs imposed by Donald Trump and would hope to avoid withdrawal of GSP benefits for $5.6 billion worth of Indian exports. Sources have told CNBC TV18 that the US has not made any formal communication on withdrawal of GSP benefits and this issue is unlikely to come up during the commercial dialogue in New Delhi.

Top CEOs from India and the US would be in New Delhi for the CEOs forum which will take place ahead of the Commercial Dialogue. N Chandrasekaran, Chairman, Tata Sons and James Taiclet, Chairman, American Tower Corporation are co-chairing the event.

Eight working groups would make presentations on MSMEs, emerging technologies, infrastructure, finance, defence and aerospace, pharma, energy and environment. US India CEOs forum will provide a report on possible areas or cooperation.

During the commercial dialogue, US Commerce Secretary Wilbur Ross, Ambassador Kenneth Juster and India's commerce minister Suresh Prabhu will review the outcomes of 2018 Commercial Dialogue. "There would be discussions on standards, business climate and investment, travel and tourism", said a source.

Union Minister Suresh Prabhu would be leading the Indian delegation and he would be accompanied by the Commerce Secretary and Secretary, DIPP.