India’s trade barriers worsening

23/12/2014 12:00 - 546 Views

INDIA'S TRADE BARRIERS HAVE GOTTEN WORSE, ITC SAYS: India’s policies since 2007 have made it harder for U.S. companies to trade and invest in the Indian market, the U.S. International Trade Commission says in a new report.

The report highlights two areas in particular: tariffs and customs procedures, which have had the biggest effect on U.S. agricultural exporters, and taxes and financial regulations, which have had a major impact on the chemicals and textiles sectors.

The report was requested by the leaders of the House and Senate trade committees last year following a crescendo of complaints from U.S. companies over Indian trade policies, particularly with respect to intellectual property rights.

According to the ITC, intellectual property-related barriers were less of an impediment to U.S. companies than tariffs and taxes, “even by U.S. companies that considered IP protection very important to their operations.” But the report noted that the IP environment and local content requirements were “particularly problematic for pharmaceutical companies, with 27.9 percent substantially affected.”

Source: Politico