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VI Joins Call to Improve Trade with India
The Vinyl institute joined a diverse group of 20 associations calling for improvements in America’s trade relationship with India. In a letter to House and Senate leadership, the group called for policy reforms to ensure fair trade with India and the protection of intellectual property, among others.
“Businesses in the United States continue to face an evolving array of tariff and non-tariff barriers, both longstanding and new… These barriers include forced localization measures; high tariffs, including some contrary to India’s WTO commitments; foreign ownership restrictions in a number of sectors, including Business to Consumer (B2C) retail; insufficient protection of intellectual property rights; long and inconsistent government approvals and licenses; and unique and onerous standards and testing procedures.”
The letter acknowledged some improvements since Prime Minister Narendra Modi was elected nearly three years but other reforms had yet to occur.
“While there have been several steps in the right direction over the past two and a half years since Prime Minister Modi’s election, including foreign investment openings in a few sectors, fossil fuel and energy efficiency policy initiatives, efforts to address infrastructure project permitting and licensing challenges, and passage of legislation related to bankruptcy and tax reforms, concrete and lasting policy changes to address a number of other longstanding issues comprehensively remain elusive.”
With the Trump Administration preparing to reexamine America’s trade agreements, India will remain a key point of discussion.
As the Vinyl Institute approaches these issues we want your perspective on the potential impact on your business. What do you think? Let us know here.