(VOVworld) – India and the US held their first round of trade negotiations in 4 years on Tuesday in New Delhi.

U.S. Trade Representative Michael Froman speaks during a conference organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), in New Delhi November 24, 2014 (Photo: Reuters)

Although little progress was made, the two sides agreed on arrangements for the next round of negotiations, which will focus on agriculture, service, manufacturing, and intellectual property. At a press conference following the negotiation, US Trade Representative Michael Froman said he was cautiously optimistic after the talks, but played down hopes of major "deliverables" before President Barack Obama’s visit to India in January, his second after a trip in 2010. Froman urged India to keep its market open and ensure that foreign investors can operate in a "transparent, predictable and consistent" environment.