![]() Financial Daily from THE HINDU group of publications Wednesday, Nov 19, 2003 |
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Industry & Economy
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Foreign Trade `Indian position on trade lacked consistency' Our Bureau
Chennai , Nov. 18 THE burden of improving Indo-US trade in high technology areas, such as information technology and life sciences, largely rests with India, a US Commerce Department official said on Monday. Mr Kenneth I. Juster, Under Secretary in the Department's Bureau of Industry and Security, who is visiting India to smoothen trade ties between the two countries, told the Confederation of Indian Industry here that the Indian position on trade lacked consistency. "India cannot take the position that free trade makes sense in outsourcing and not in lowering barriers. It has to be a two-way street," Mr Juster said. Indian exports to the US, at $9.9 billion in 2001-02, were about three times the imports. Mr Juster told the businessmen that the US administration feels that Indian tariffs are unreasonable and protection of intellectual property rights weak. On the other hand, Indian businessmen feel the US is reluctant to export technology that can be used for both civilian and military purposes. Mr Juster clarified that US export controls do not specially target high technology exports to India, adding, "Export controls have far less impact on our trade than is perceived."
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