Stating that the U.S. was excited and committed to improve economic relationship with India, U.S. Trade Representative (USTR) Ron Kirk on Monday urged the Indian Government to improve climate for luring liberal investments into India, including the IPR regime.
“We would also like to see more improvement and openness in the investment environment for U.S. businesses in India.
“There is room for improvement by India and we have conveyed to the Union Commerce and Industry Minister, Anand Sharma. There is concern over the present Intellectual Property Right (IPR) regime and how it works. Present trade between the two countries is the tip of the iceberg.
Seeks greater access
“We want India to be among the top ten trading partners of the U.S. from the present 17th position. We look for improvement in the healthcare, education, information technology and environmental systems. The U.S. has sought greater access to financial services, goods and services areas,” he told journalists at a briefing here. Referring to the concerns expressed by the Indian side on the H1-B visas issue, Mr. Kirk said the U.S. administration was working closely with the U.S. Congress to address the concerns on this issue.
Talking about the IPR regime, Mr. Kirk said it was saddening that India had been on the U.S. watch-list for the last 14 years. Business partners should play but the rules. India needs to work on the IPR issues and its administration in order to generate confidence among investors from the U.S.
ANSHU KUMAR
PGDM 1st sem
Showing posts with label ST. Show all posts
Showing posts with label ST. Show all posts
Tuesday, October 27, 2009
India, U.S. to conclude three trade pacts
India and the U.S. on Monday agreed to fast-track and conclude within a given timeframe agreements on enhancing and deepening trade and investment engagement, and Intellectual Property Rights (IPR) cooperation agreement and an agreement for putting in place traditional knowledge digital library.
The two countries also issued a joint statement at the end of the Sixth Ministerial Level meeting of the India-U.S. Trade Policy Forum (TPF) with readiness to continue focus on agriculture, innovation and creativity, investment, services and tariff and non-tariff barriers. The Indian team was headed by the Commerce and Industry Minister, Anand Sharma, and the U.S. delegation was headed by the U.S. Trade Representative, Ron Kirk.
Briefing journalists at the end of the meeting, Mr. Sharma said although no firm deadline had been fixed for concluding these agreements they would happen soon. “The U.S. has submitted us a draft on these issues and we will certainly study it. We hope to sign agreement very soon. These are in continuation of the high-level engagement between the two countries and in the run-up to the Prime Minister, Manmohan Singh’s, visit to Washington next month,” he added.
Agreement on IPR
Mr. Sharma said the cooperation agreement on IPR was being put in place to reassure and comfort investors from both the countries. Expressing satisfaction with the result of Monday’s meeting, Mr. Sharma said the Indo-U.S. TPF would act as a catalyst for enhancing trade and investment and promoting economic engagement.
The joint statement said the two countries agreed to work together on a framework for promoting real and meaningful cooperation in trade and investment.
They also agreed to work together to support greater involvement of small and medium enterprises in each others’ markets and to pursue initiatives in the further development of India’s infrastructure, collaboration on clean energy and environmental services, information and communications technologies and other key sectors.
H1-B visas
On the issue of H1-B visas for Indian professionals, Mr. Sharma said he had taken up the matter with Mr. Kirk stating that the Indian IT sector and industry in the U.S. had not only made huge investments but also generated thousands of jobs.
They are only one per cent of the total IT professionals working in the U.S. They have made a huge contribution to the U.S. economy and U.S. should take steps to sort out all issues faced by them in this area.
ANSHU KUMAR
PGDM 1st year
The two countries also issued a joint statement at the end of the Sixth Ministerial Level meeting of the India-U.S. Trade Policy Forum (TPF) with readiness to continue focus on agriculture, innovation and creativity, investment, services and tariff and non-tariff barriers. The Indian team was headed by the Commerce and Industry Minister, Anand Sharma, and the U.S. delegation was headed by the U.S. Trade Representative, Ron Kirk.
Briefing journalists at the end of the meeting, Mr. Sharma said although no firm deadline had been fixed for concluding these agreements they would happen soon. “The U.S. has submitted us a draft on these issues and we will certainly study it. We hope to sign agreement very soon. These are in continuation of the high-level engagement between the two countries and in the run-up to the Prime Minister, Manmohan Singh’s, visit to Washington next month,” he added.
Agreement on IPR
Mr. Sharma said the cooperation agreement on IPR was being put in place to reassure and comfort investors from both the countries. Expressing satisfaction with the result of Monday’s meeting, Mr. Sharma said the Indo-U.S. TPF would act as a catalyst for enhancing trade and investment and promoting economic engagement.
The joint statement said the two countries agreed to work together on a framework for promoting real and meaningful cooperation in trade and investment.
They also agreed to work together to support greater involvement of small and medium enterprises in each others’ markets and to pursue initiatives in the further development of India’s infrastructure, collaboration on clean energy and environmental services, information and communications technologies and other key sectors.
H1-B visas
On the issue of H1-B visas for Indian professionals, Mr. Sharma said he had taken up the matter with Mr. Kirk stating that the Indian IT sector and industry in the U.S. had not only made huge investments but also generated thousands of jobs.
They are only one per cent of the total IT professionals working in the U.S. They have made a huge contribution to the U.S. economy and U.S. should take steps to sort out all issues faced by them in this area.
ANSHU KUMAR
PGDM 1st year
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