U.S., European Industries Urge Stronger Trade and Investment Ties with India

Joint Letter to Indian Commerce and Industry Minister Calls for Action and Results on Trade and Investment Barriers

Washington, D.C., December 16, 2014 – On behalf of businesses across Europe and in all 50 U.S. states, the heads of the National Association of Manufacturers (NAM) and more than a dozen other organizations today sent a joint letter to Indian Commerce and Industry Minister Nirmala Sitharaman urging action on trade and investment barriers that are preventing overseas firms from contributing fully to India’s economic growth. 

“U.S. and European companies alike face significant challenges in the Indian market and look forward to promised improvements in India’s trade and investment policies,” said NAM Vice President of International Economic Affairs Linda Dempsey. “We welcome opportunities to work with Minister Sitharaman and with our own governments to address barriers and achieve lasting solutions.”

To cut costs and improve the transparency, reliability and consistency of India’s policy and regulatory framework, the organization leaders called on India to lower tariffs, raise investment caps, end localization requirements and strengthen intellectual property protection and enforcement. They support a single federal goods and services tax and swift implementation of WTO Trade Facilitation Agreement commitments.

The organizations urged India’s government to support progress leading to mutually beneficial results on these and other issues, including through bilateral and global forums.

Organizations signing the letter include the following:

  • BUSINESSEUROPE
  • National Association of Manufacturers
  • European Automobile Manufacturers’ Association
  • The European Chemical Industry Council
  • DIGITALEUROPE
  • Distilled Spirits Council of the United States
  • European Federation of Pharmaceutical Industries and Associations
  • European Services Forum
  • The European Apparel and Textile Confederation
  • National Electrical Manufacturers Association
  • National Foreign Trade Council
  • European Engineering Industries Association
  • spiritsEUROPE
  • Telecommunications Industry Association

-NAM-  

  The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.08 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for two-thirds of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.