'Certainty' will be agenda with India's new govt: US industry

Tags: Economy
The US industry has said it wants "predictability, certainty and transparency" in India's economic and trade policies, and this would be its agenda with the new government to be formed after the poll results of the Lok Sabha elections.

Describing it as the "foundational issue" for the future of Indo-US trade relationship, US-Indian Business Council acting president Diane Farrell, at a meeting of Indian and American businesses in Tampa, yesterday said once a new government is in place in India, the US industry will look forward to a rekindling of bilateral dialogues.

"Once a new government is in place in India, we look forward to a rekindling of bilateral dialogues, including the Trade Policy Forum, the US-India Strategic Dialogue, and the CEO Forum," she said as she laid out her agenda for the new Indian government, which includes, tax, intellectual property, defense, immigration reform, and legacy issues.

"Retroactive and unpredictable taxation has become a global headline concern. Companies cannot and will not invest in a country that is lacking a clear and predictable tax policy. Some progress has been made, but more work needs to be done in order to resolve the perception of gridlock," she said.

"While on the subject of tax, USIBC member companies look forward to the adoption of a new Goods and Services Tax (GST)-a unifying, predictable approach that will dramatically increase government revenue and ease the movement of goods across India," she added.

"Like tax, another foundational issue that must be clarified is intellectual property. We must work together to clear the fog that surrounds the issue. Recent actions in India have caused very serious concerns across US Industry as it relates to IP. Companies need assurances that their hard fought and earned intellectual capital will be protected," she said.

EDITORIAL OF THE DAY

  • India cannot afford to ignore the looming Greek crisis

    The crisis in Greece may not have a direct bearing on the Indian economy because the trading or banking exposure of Indian companies to that nation is

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

A complex challenge for our PSUs

Till the mid-1990s, the central government and its companies were ...

Kuruvilla Pandikattu SJ

The transforming qualities of love

The 2015 Templeton Prize has been awarded to Canadian thinker ...

Dharmendra Khandal

The one in which a blue whale was washed ashore

Quite unexpectedly, a gigantic blue whale was washed ashore at ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture