Endorse India for permanent UNSC seat, USIBC asks Obama
Wednesday, 03 November 2010, 19:36 IST
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Washington: The U.S.- India business community wants President Barack Obama to endorse India for a permanent seat in the UN Security Council, and address issues of concern for New Delhi like the H-1B visa fee hike and fears about outsourcing of U.S. jobs to India. Ahead of Obama's India visit this week, they have also advocated the lifting of most dual-use export licensing requirements specific to India and batted for making licensing and clearance for defence articles easier for India. At the same time, the report submitted by the U.S.-India Business Council (USIBC) has suggested that India needs to increase the FDI investment cap to 74 percent to spur greater investment and transfer of technology. "The United Nations Security Council remains the clearest symbol of decision-making in world security matters. The U.S.-India business community strongly feels that our partnership should begin here," said the report 'Partners in Prosperity Business Leading the Way' released by the USIBC, whose Chairman is Terry McGraw, President and CEO of the McHGraw-Hill Companies. "President Obama calling for a renewal of the UN Security Council and the inclusion of India as one of its new permanent members will galvanise both societies, laying the groundwork for deeper collaboration at every level," it said. Observing that the U.S. midterm election season has resurrected unfounded fears about outsourcing of U.S. jobs to India, the report also noted that the U.S. Congress' recent move to raise H1-B and L1 visa fees for foreign companies has caused concern in the industry. "These bumps in the road present both a challenge and an opportunity. The way ahead is full of promise, but in order to get there, executives in the U.S. and India must bring along and carry public sentiment on both sides favouring deeper US-India commercial ties. "To accomplish this, we must achieve positive change via specific advocacy," said the 12-page report. It said the U.S. should treat India as a favoured nation when it comes to information exchange relative to advanced technology or defence cooperation. The U.S. should also raise India's partner status and category tier-listing on the National Disclosure Policy, the U.S. Munitions List, and the Commerce Controls List, it said. Contending that American procedures are complicated when it comes to defence articles, it said the U.S. should designate a senior official with the authority to act as ombudsman to resolve complex licensing and clearance issues. At the same time, it says India has the responsibility to make its complex bureaucratic procedures defense procurement simpler. It also called for increasing the 26 percent cap on FDI in the defence industry to 74 percent. USIBC also urged India to open the multi-brand retail sector to organised players.
Source: PTI
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