US industry urge Forman to address barriers in bilateral trade at TPF

Image
Press Trust of India Washington
Last Updated : Nov 25 2014 | 6:15 AM IST
Ahead of India-US Trade Policy Forum meeting today, 15 top American business organisations have appealed to the US Trade Representative to address longstanding irritants and barriers in bilateral trade and investment relations.
US Trade Representative Michael Froman will co-chair the Trade Policy Forum, a government-to-government trade dialogue aimed at increasing bilateral investment between the two nations, along with Commerce and Industry Minister Nirmala Sitharaman today.
In a letter to Froman, 15 top American trade bodies outlined specific issues pertaining current Indian policies, including high tariffs and discriminatory forced localization policies, burdensome requirements on information and communication technology products.
The US business groups, however, welcomed steps taken to resolve the stalled WTO Trade Facilitation Agreement while emphasizing that concrete action is needed on several longstanding and new trade barriers.
"The Trade Policy Forum comes amid mixed signals from the Indian government, which has declared India 'open for business', but recently raised tariffs and imposed burdensome new testing requirements on telecommunications products and, according to press reports, is also planning to implement new localization policies.
"For the Trade Policy Forum to be meaningful, it must ultimately lead to concrete steps to improve the environment for businesses in the US that are exporting to and operating in India," they said in a joint statement issued yesterday.
These concrete steps should include measures to address any number of pressing concerns, including prohibitively high tariffs and discriminatory forced localization requirements that are blocking US exports of a wide range of products.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Nov 25 2014 | 6:15 AM IST

Next Story