U.S.A Welcomes India to take a leadership role in regional Asia Affairs / Global Trade

2015-08-07

America would like India to take more of a leadership role and regional Asia trade, and the global trade process as a whole, to counter-balance China's every growing presence in Global Trade. America sees India as a key member of the Asia Pacific Economic Cooperation(APEC) agreement, and the addition of India will make the organization just that much stronger.

America believes India has a lot to add to the APEC forum owing to its status as the worlds 3rd largest economy. In recent times, America and India have seen their economic and diplomatic relations improving by leaps and bounds, and all signs point to the U.S. / India relationship growing ever tighter as America pushes its Asian allies to take a more pro-active role in developing their economies and opening their markets for free trade.

India still has some ground work to do on restructuring its trade policies, opening up its market, and changing its protectionist attitude. Once India takes the proper steps towards trade reform, we feel India will become a model member of the APEC states, said the U.S. Ambassador for India.

Another subject being ironed out in the India trade reform deal will be allowing Citizens of both countries the ability to transfer social security tax money paid into the U.S. / India back to their home country. (Social security totalisation treaty)

India is eager for the U.S. to ratify this treaty, as it will mean a potential stimulus for the countries beleaguered social security system, but the U.S. is wary to approve this treaty as it would be a one-sided deal as there are relatively few Americans working in India, in comparison to the millions of Indians working in the U.S.

America and India have already begun to address the issue, but the progress has been slow. When President Obama visited India, the subject was brought up and initially discussed but it is not something that is on the Obama Administrations Agenda, so the subject was swept under the rug and left for congress to address as Obama works to hammer out TPP and other more pressing trade treaties.

The U.S. Congress understands the concerns on India’s side, and they are looking at several ways to address the legislation, but policy makers say there is no real hope of the legislation being addressed before India finishes working out the details of the U.S.- India bilateral investment treaty. Despite some thorny issues, the U.S. expects India in the not so distant future to be a key player in many of the Trade Agreements that are currently on the negotiating table.

Source from : CNSS

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