WASHINGTON: Welcoming the recent Indian decision to put a hold on its policy of Preferential Market Access(PMA), the United States has expressed its concern over continued investment climate in India and its policies related to Intellectual Property Regime (IPR).
The Obama Administration yesterday conveyed the message to India when Indian Commerce and Industry Minister Anand Sharma met US Trade Representatives (USTR) Mike Froman on the sidelines of the 38th annual Leadership Summit of the US India Business Council (USIBC).
The two-hour meeting, the first time for the ministers since Froman was sworn in as US Trade Representative last month, covered a full range of trade and investment challenges and opportunities of interest to both the countries.
Froman, during the meeting, welcomed the announcement that India's PMA policy is to be reviewed and modified, including the commitment that the revised policy would not have domestic manufacturing requirements, per centage based or otherwise, with respect to private sector procurement of electronics products.
However, Froman noted that the continued concern of the US and other trading partners regarding the growing number of other localisation barriers are in-country testing requirements for information and communications technology equipment and preferential treatment for indigenous intellectual property that seek to favour India's domestic manufacturers, suppliers and innovators at the expense of foreign firms and workers.