Removing FDI barriers in high-tech trade, US urges India
July 11th, 2011 - 4:21 pm ICT by IANSNew Delhi, July 11 (IANS) The US Monday pressed India to dismantle barriers to foreign direct investment and ease procurement processes to increase bilateral defence and high-tech cooperation.
“India has embarked on a military modernization program, which is expected to receive $35 billion over the next five years,” Eric L. Hirschhorn, U.S. under secretary of industry and security, said Monday.
“We must find new ways to break down tariff and non-tariff barriers to trade that stifle cooperation,” Hirschhorn said. He added that US companies have got contracts worth $8 billion from India in the last few years, but stressed that there’s enough room to grow the business.
Hirschhorn was speaking at the eighth meeting of the India-U.S. High Technology Cooperation Group that was set up in 2002 for promoting dual-use high-technology trade between India and US by addressing systematic barriers.
Hirschhorn also held talks with Foriegn Secretary Nirupama Rao that revolved around issues relating to further easing of high-tech trade between the two countries.
- High-tech trade: India urges US to focus on R&D;, design (Lead) - Jul 11, 2011
- Clinton to visit India, nuclear waiver, AfPak tops agenda - Jul 08, 2011
- India 'reasonably optimistic' on high-tech exports - Nov 04, 2010
- US removes ISRO, DRDO from export control list - Jan 25, 2011
- US lifts 12-year export controls on Indian space, defence cos. (Lead) - Jan 25, 2011
- Rao to visit US, NSG membership on agenda - Jan 28, 2011
- US to support India for NSG, to clear banned Indian entities (Lead) - Nov 06, 2010
- US eyes sale of fighter jets, high tech items to India - Feb 04, 2011
- India, US look for the next big thing for Obama visit - Sep 19, 2010
- Obama visit: India downplays differences, hopes for high-tech trade (Lead) - Nov 04, 2010
- US to reform high-tech export laws for India (Lead) - Oct 21, 2010
- Bilateral trade with US would grow beyond 50 billion dollars in 2011: Anand Sharma - Feb 07, 2011
- India, Pakistan agree to dismantle trade barriers - Feb 13, 2012
- India, Pakistan focus on implementing trade deal - Nov 14, 2011
- US companies operating in India awarded - Feb 08, 2011
Tags: contracts, dual use, foreign direct investment, high technology, hirschhorn, India, military modernization, modernization program, New Delhi, new ways, next five years, nirupama rao, procurement processes, tariff barriers, technology cooperation, technology trade