Industry hopes India- US trade deal will reduce number of dispute cases: TPCI
Press Release:
Industry hopes India- US trade deal will reduce number of dispute cases: TPCI
– Government playing constructive role in concluding trade deal
9th October 2019, New Delhi: Trade Promotion Council of India (TPCI), said that India –US trade deal will usher a new era of bilateral trade relations. Chairman TPCI, Mohit Singla said today, “Industry is hopeful that India- US will reduce the trade friction and also curb dispute cases. Out of 32 cases that have been filed against India, so far, at WTO 8 cases has been from US side alone.”
Further, Chairman TPCI said, “Government is playing a very constructive role and toiling hard that the domestic industry is not hurt especially the dairy and medical instruments industry. India has to see that the medical devices prices are in control.”
Singla also said, “While US has choose to levy retaliatory tariff against China and EU it has so far remained positive with India and have not imposed any block retaliatory tariff, except withdrawing the GSP benefit, which they might revoke soon.”
Highlighting the social security of Indian workers in US Chairman Singla said, “The Totalization Agreements which is international social security agreements that eliminate dual social security taxation, both in the home country and country where an employee works also should be part of the trade deal with US, as once it is signed it would benefit workers of both the countries and ensure equality of treatment.”
Indian works are playing whopping taxes on their income in US so, either they are allowed to avail all social security benefits after eight years or their working visa is extended beyond 10 year so that they are not adversely impacted and get all benefits at par with US citizens, Singla added.
US is pushing India to sift from export subsidies to WTO complaint subsidies.
For any further information, contact:
Sameer Pushp
DIRECTOR-
MEDIA & CORPORATE COMMUNICATIONS
9, 2nd Floor, Scindia House, Connaught Circus,
New Delhi- 110001, India
T: (91) 11 40727281
M: (91) 9811229110
W: www.tpci.in
