Macro Economy

India welcomes US move to grant STA-1 status

Our Bureau New Delhi | Updated on July 31, 2018

Decision will make it eligible for easier hi-tech imports

India has welcomed the US government’s decision to grant it the status of a Strategic Trade Authorization-1 (STA-1) country — a move that will make it eligible for exports of number of high technology products to India without the requirement of individual licences.

“It is a logical culmination to India's designation as a major Defence partner of the US and a reaffirmation of India's impeccable record as a responsible member of the concerned multilateral export control regimes. This step will further facilitate India-US trade and technology collaboration in defence and high technology areas. We look forward to the US side operationalising the decision at an early date,” said Raveesh Kumar, spokesperson, Ministry of External Affairs.

“India’s status as a major defence partner led to its becoming a STA Tier-1 country, comparable to our NATO allies, under the Department of Commerce’s Export Administration Regulations,” said Secretary of Commerce, Wilbur Ross, at the Indo-Pacific Business Forum in Washington on Monday.

Published on July 31, 2018

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