Ahead of his meeting with Prime Minister Narendra Modi next week, a US trade advocacy group on Saturday sought President Barack Obama's help in improving the business climate for American companies in India.
Representing voices of a select group of companies mostly from the pharma and manufacturing sector, the Alliance for Fair Trade in a letter to Obama urged him to discuss necessary policy changes to improve the business environment for American companies in India.
The alliance has a track record of raising such issues in the past and launching anti-India campaigns on issues related to intellectual property and pharma sectors.
In the letter, US business and manufacturing groups welcomed the renewed focus on high level commercial dialogues with the goal of creating a mutually beneficial US-India economic relationship.
They noted that implementation of trade reforms will boost India's long-term economic growth and foster market access for American innovators, exporters, and investors. “India's high tariffs, use of forced localisation barriers, and weak intellectual property protection and enforcement are not only thwarting manufacturers' access to India, but denying Indian citizens and companies access to best-in-class products,” said AFT co-chair and National Association of Manufacturers vice president of international economic affairs linda Dempsey.
“To boost foreign investment and create a thriving and innovative economy, we hope that India will embrace international standards and ease the counterproductive and harmful trade burdens that hurt both US businesses and India's ability to attract high levels of investment,” she said.
“American innovative companies are encouraged by the discussion of necessary policy changes to enhance intellectual property rights and enforcement in India,”said Patrick Kilbride, co-chair of AFT and executive director for international IP policy at the US Chamber of Commerce's Global Intellectual Property Centre.
“We look forward to continued dialogue between these leaders to allow both countries to capitalise on the opportunity for mutual growth and innovation,” he said.