Impact on US Exporters
In the report on Trade Policy Agenda for 2021, the US Trade Representative (USTR) said that in the year 2020, the US continued to try to resolve the issues related to accessibility in the Indian market. India’s trade policies focused on ‘Make in India’ have also affected American exporters.In its report submitted to the US Congress on Monday, USTR said that India has become a necessary market for US exporters due to its large market and all the opportunities for economic growth, but the way policies restricting trade in India are implemented. Coming, it will weaken the business relations of both the countries.joe Biden
Talks are going on at GSP
The report says that India’s emphasis on reducing imports through the ‘Make in India’ campaign exposes the challenges of our bilateral trade relations. It is to be noted that on June 5, 2019, the US had abolished the special trade-in preference for India under the Generalized System of Preferences (GSP). joe Biden Since then, talks on this issue have been going on on both sides. According to the report, the United States wants India to cut many tariffs and make American companies accessible in the market. Apart from this, there are also some disputes regarding non-tariff barriers in both countries.
Right now the UK is on top
According to the report, the US had put its concerns before India in 2020 on all issues related to bilateral trade. Issues such as policies affecting intellectual property protection and implementation, electronic commerce and digital trade as well as market access to agricultural and non-agricultural products were the main ones. The report states that the UK is at the top in terms of import of American services. In 2019, Britain took services from the US for $ 62 billion. Whereas India finished sixth in this case. India imported $ 29.7 billion. Similarly, Canada imported 38.6 billion, Japan 35.8 billion and Germany 34.9 billion dollars from the US.
Lactose exports decreased
The USTR also said that India had abandoned ships carrying lactose and whey protein in July last year after the US objected. In fact, New Delhi had made a dairy certificate mandatory with the products in April 2020 and in the absence of this, many US ships were stopped. Prior to this rule, the export of joe Biden American lactose and whey protein to India was increasing. In 2019, where exports reached $ 54 million, while last year it was just $ 32 million.