'No justification for Indian companies on US entities list'

With deepening and strengthening of strategic relationships between India and the US, there is no justification for keeping Indian companies in the entities list, Union Commerce and Industry Minister Anand Sharma has said.

"There is no justification of the continuation of Indian companies on the entity list," Sharma told a group of Indian journalist after his meetings with top US officials including Trade Representative Ron Kirk.

"The issue of export controls particularly the need to removal of Indian entities after the understanding and agreements that the two countries have reached in strategic field in particular was raised earlier. It did figure, not in the trade policy form, but in the closed bilateral," Sharma said when asked bout the continuation of Indian companies in the entities list.

"We do hope that there will be action. They are aware of the significance of it and the need. The Indian viewpoint has been articulated and reaffirmed unambiguously. We hope that (contradiction between cooperation and entity list) will be corrected," Sharma said.

"We have said that India's position is well known and appreciated because Washington also attaches equal significance to this strategic partnership with India," he said.

Sharma who attended a number of meetings here said during the meetings the two countries also discussed the idea of a Indo-US Treaty of Trade and Investment.

"We have between the two countries signed a framework co-operation agreement on trade and investment. We have suggested – both the sides discussed – that we should upgrade and start discussing seriously into a treaty of trade and investment. We hope that in a structured format this would be taken forward in the coming months," he said.