Unlock protected sectors of Indian economy: US congressmen to Trump
- IndiaGlitz, [Sunday,June 25 2017]
Prime Minister Narendra Modi is in the US for the first bilateral meeting with President Donald Trump. US lawmakers have urged their President to insist on India eliminating certain trade and investment barriers.
In a letter to Trump, the leading congressmen wrote, “Many sectors of the Indian economy remain highly and unjustifiably protected, and India continues to be a difficult place for American companies to do business.” Noting that India ranks 130th out of 190 countries in a 2017 World Bank Report on ease of doing business, they said that a “long and growing” list of stringent regulatory practices is stifling American businesses in India.
President Trump had called for the H-1B visa system to be reformed to reduce trade deficit with India and recently complained that India had negotiated for a huge aid during the Paris Talks. There might be friction during the upcoming discussions.