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U.S. Talks Of Challenges In Addressing India's Visa Concerns
The companies will also have to shell out more fee to get a H-1B visa, if the draft legislation is cleared by the Congress and is signed into law by US President Barack Obama.
"There was a broad spectrum of discussion between the Finance Minister and the Secretary of Treasury. It covered the entire gamut of economic and financial relationship which included areas of anti-money laundering and financing for terror," Mayaram said.
Broadly there was understanding that there will be deepening of the bilateral relationship ties, Mayaram said.
From the US side, Lew raised the issues of taxation and intellectual property rights.
"The Finance Minister explained to them how our laws are fully complaint with the WTO (World Trade Organisation) and that the decisions of the Government of India on several issues including compulsory licensing were very much in line with international practice," Mayaram said.
On the speeding up of the Indian structural reform RBI Governor Raghuram Rajan and also SEBI Chairman U K Sinha explained to the US delegation, which among others included Federal Reserve Chairman Ben Bernanke, that large number of reform measures have been taken and how doing business in India has been improved.
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Source: PTI
