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| Politics
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| US seeks lower tariffs |
| US seeks lower tariffs for greater market access in India
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| UNITED STATES OF AMERICA
, 7-February-2011
19:28:21 PM |
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The US today said that even though India has brought down tariffs, trade barriers still exist, which explains its low ranking on the World Bank’s ‘Ease of Doing Business’ report.
“When there are not outright tariffs, there are other non-tariff barriers that limit trade and investment including limits on FDI in key sectors, inadequate protection of IPRs and mandatory technology transfer requirements for telecom companies,” visiting US commerce secretary Gary Locke said at a CII function here.
He said that the main challenges facing India-US business relations include concerns on transparency of process of doing business, protection of intellectual property rights and implementation of IPR rules along with non-tariff barriers.
Locke, who is leading a high-end technology trade mission from the US for promoting the export of technologies in sectors such as civil nuclear energy, aviation and defence, said that it is due to such barriers that India is ranked only 134 out of 183 countries on the World bank’s report.
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