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12. February 2017

IN / US - US companies seek 'fair play' in India

IN / US  - US companies seek 'fair play' in India

Asserting that US businesses continue to face an "evolving array" of tariff and non-tariff barriers in India, a group of 20 eminent American business organisations and industry groups in a letter to Congressional leadership have sought a "fair play" for them in the huge Indian market.

"The US government, including Congress, should use all available channels to ensure fair play for businesses, investors, and entrepreneurs across the US, and to support Indian efforts that align with these goals," the group said in a letter to top Congressional leadership including the House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, days after the inauguration of the Donald Trump administration.

"In particular, it is critical for the US to use actively both existing and new platforms and tools to raise and resolve longstanding issues," the letter said, adding that the Strategic and Commercial Dialogue and TPF, for example, have been valuable opportunities for senior level exchanges between the two governments.

"In the hands of a new administration, and with robust oversight and encouragement from leaders in Congress as well as greater private sector participation, the S&CD and TPF can be improved and serve as opportunities to address concretely areas of mutual economic interest that deepen the US-Indian commercial relationship," the letter said.

"Businesses in the US continue to face an evolving array of tariff and non-tariff barriers, both longstanding and new, which impede businesses and manufacturers in the United States from competing fairly in India and creating jobs here at home," the letter said.

"Similarly, where appropriate, WTO dispute settlement has played and should continue to play a key role in ensuring that India follows through on its international commitments," said the letter signed by Advanced Medical Technology Association (AdvaMed), American Business Conference (ABC), American Chemistry Council (ACC), American Foundry Society (AFS), Association of Equipment Manufacturers (AEM), Biotechnology Innovation Organisation (BIO), and CropLife America.

"As a result, the economic relationship between the US and India remains unbalanced and significantly underperforming its potential. The US market is largely open to India and has become the second-largest destination for Indian exports worldwide," it said.

Source: indiatimes.com

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