US body probes India's trade policies under Modi
The US International Trade Commission has launched an investigation to examine 'significant changes' to India's trade and investment policies since the new Modi government came to power.india Updated: Oct 31, 2014 11:36 IST
The US International Trade Commission (USITC) has launched an investigation to examine 'significant changes' to India's trade and investment policies since the new Modi government came to power.
The quasi judicial federal agency said it was undertaking an investigation of India's trade and investment policies at the request of two Congressional panels - the house committee on ways and means and the senate committee on finance.
In 2013 too, the panels had jointly asked the USITC "to investigate Indian policies that restrict US trade and investment" and their effects on the US Economy. The commission said it would submit its report on that probe on December 15, 2014.
The two panels said they were requesting the new probe "Given the recent national elections in India and the formation of a new Bharatiya Janata Party-led government, and our interest in receiving the most comprehensive and up-to-date information possible."
The USITC said its new probe "will provide information about any significant changes by the Indian government to the trade and investment policies identified in the Commission's ongoing investigation."
"The USITC will also include information on any new relevant new trade and investment policies and practices in India, focusing on the period from mid-2014."
The panel said it expects to deliver the report to the committees by September 24, 2015.
The USITC will hold a public hearing in connection with the investigation on April 7. It has also invited written submissions for the record before June 2.
Indian officials had declined to appear before the commission during its earlier probe.
But the Confederation of Indian Industry (CII) as also some US companies told it that American and other foreign firms have tremendously benefited from India's opening up.