Thaindian News

New Delhi, Oct 26 (IANS) The US has asked India to further improve its intellectual property regime and open its market for US firms, even as both countries worked towards finalising a framework agreement on trade and investment, which will be signed soon.
“We have made great progress towards a formal framework towards cooperation on trade and investment which we hope to sign in the very near future,” visiting US Trade Representative Ron Kirk told reporters Monday after co-chairing the sixth annual India-US Trade Policy Forum with Indian commerce minister Anand Sharma here.

Kirk was in India earlier in September when he attended the mini-ministerial meeting of the the World Trade Organisation on the Doha Round trade talks. Sharma visited Washington earlier this month.

Describing the meeting as “extraordinarily productive”, Kirk said that one of the goals for travelling to India within two months was to “improve the tone and frankness of the discussion”.

These discussions will further strengthen trade ties between the two countries ahead of Prime Minister Manmohan Singh’s visit to US next month, he said.

There was “room for improvement, especially in strengthening of intellectual property and access of US goods and financial services into Indian markets,” said the US official.

Kirk said the US would like to see “more improvement and openness” in the investment environment for US businesses in India.

“In the much talked about example, we open up our agricultural market to Indian mangos. These freely flow into our country. In return, we had hoped to export pistachios, which are very strong staple of your diet, not grown domestically and high-end motorcycles. Today, not one Harley Davidson motorcycle has been sold in India,” he added.

India-US trade doubled in the last three years. India’s exports to the US were $20.7 billion (Rs.93,200 crore), which is over 12.7 percent of its total exports, while imports were $21 billion.

Speaking to reporters after the meeting, Commerce Minister Sharma said India has assured the US of strengthening its intellectual property regime.

“IPR is a serious issue. The Indian industry also wants strong copyrights against violations. Both countries have agreed on IPR cooperation and we hope to sign it soon,” he said.

The minister added that he took up the issue of raising the cap on visas for skilled workers (H-1B) in his meeting with the US trade official.

“We have raised our concerns before the US representative and have given them the details in this regard. They have identified it and understood the seriousness of the issue,” he said.

H-1B visas, which are non-immigrant US visas for skilled professionals, given for up to six years, are highly popular with Indian IT companies.