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| US allows GE India to get restricted technology |
| Press Trust Of India / Washington Jun 19, 2009, 00:47 IST |
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The US has allowed General Electric (GE) India to receive certain controlled American technology items without an individual licence.
US Commerce Secretary Gary Locke said GE India had been given the validated end-user (VEU) status, whereby the company would be able to receive certain controlled US technology, including civilian aircraft technology and explosive detection equipment, facilitating the flow of trade between the nations.
Locke said GE India would become eligible to be a VEU later this month after the regulation was published in the Federal Register.
"This is an important step in enabling a more rapid and efficient flow of sensitive technology between India and the United States," Locke said in his remarks to the US-India Business Council's 34th Anniversary 'Synergies Summit'.
"It is also a significant effort to build trust between the United States and India. We're looking forward to reciprocal actions from our partner," he said.
He encouraged additional Indian firms to take advantage of the VEU programme.
The VEU programme is administered by the Department of Commerce's Bureau of Industry and Security and implemented by an inter-agency committee of representatives from the Departments of Commerce, State, Defence, Energy and, when appropriate, the Treasury.
Commerce Acting Under Secretary for Industry and Security Daniel Hill said, "The VEU programme is a significant initiative that promotes high technology trade while protecting US national security."
"We hope that other companies will take advantage of this new programme designed to facilitate trade with trusted partners," he said.
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