USIBC Comes Out With Comprehensive Wish List

In its document, running into 40 pages, USIBC said this year it would work with the Indian government to ensure successful alignment with industry best practices when implementing the Compulsory Registration Order or the safety testing, registration, and labelling requirements.

"We will also continue to seek exemptions for highly specialised equipment and R&D products with low commercial value. Also, we will continue to seek flexibility on the labelling requirements from the Bureau of Indian Standards (BIS) while urging GOI to ensure proper coordination between all branches of the government (i.e., customs and BIS) to ensure accountability and mitigate supply chain disruptions for USIBC companies," it said.

Urging India to embrace the multi-stakeholder Internet governance model that drives competitiveness and innovation as well as economic and social growth, USIBC said it would engage with New Delhi to liberalise e-commerce in the country by lifting the FDI restrictions and providing national-level treatment, rather than applying state-level conditions, to all e-commerce retail merchants.

It also plans to press on India to implement policies that promote freedom of expression online and to resist placing inappropriate burdens on Internet companies with the intention of blocking content without due-process procedures.

USIBC said it would advocate for resolution of legal and regulatory issues critical to full implementation of the U.S.–India civil nuclear agreement, enabling U.S. companies to sign and perform Early Works Agreements and future contracts.

Coming out in support of a strong national manufacturing policy that creates a stable business climate encouraging of U.S. investment in India, USIBC said it will petition for lower tariffs in a range of key components and products that will deepen collaboration between American companies and their Indian counterparts, including current duties on heavy equipment and machinery, gas turbines, and chemicals.supports full implementation of India's Infrastructure Debt Fund, ensuring its success as an effective financial vehicle that mobilises investment into India's infrastructure sector.

Advocating for the entry and establishment of U.S. law firms in India, USIBC said it will "vigilantly resist" compulsory licensing, acknowledging that measures designed to allow government intervention should be for emergency situations only.

Resisting policy backsliding and protectionism in FDI in pharmaceuticals by advocating against the inclusion of noncompetition agreements in brownfield investments, USIBC said such measures would send a chilling signal to investors, chase capital to other markets, and negatively impact the valuation and ability for domestic companies to grow and collaborate.

The USIBC said it will encourage India to pass legislation creating a separate regulatory framework for medical devices.

Read More:

Election 2014: How It Affects the Aspirations of Corporate India

Revealed: 8 Most Creative Companies in the World