U.S. urges India to be more transparent to boost trade

WASHINGTON Thu Apr 12, 2012 11:12pm IST

A container is unloaded from a truck at Thar Dry Port in Sanand in Gujarat September 1, 2011. REUTERS/Amit Dave/Files

A container is unloaded from a truck at Thar Dry Port in Sanand in Gujarat September 1, 2011.

Credit: Reuters/Amit Dave/Files

Related Topics

WASHINGTON (Reuters) - U.S. Commerce Secretary John Bryson said on Thursday India had to be more transparent and accountable as the United States tries to bolster trade and investment with the south Asian country.

"We still have challenges in regards to transparency, accountability and openness in India," Bryson said at an event in Washington after taking 16 U.S. businesses to India to invest in the country's massive infrastructure plan.

India wants the private sector to invest billions of dollars in infrastructure over the next five years. The United States wants a piece of the action and is encouraging domestic companies to invest in sectors such as road building, railways and energy.

Bryson said the United States still had concerns with everything from high tariffs and intellectual property to forced local sourcing in technology and electronics.

"It's clear that we still have hurdles to overcome but after this trade mission I believe more than ever that we can indeed overcome them," he said.

U.S. exports to India have increased to more than $21 billion in 2011 from less than $4 billion in 2001, according to the Commerce Department.

(Reporting by Rachelle Younglai; Editing by James Dalgleish)

FILED UNDER:

Reuters Showcase

GDP Growth

GDP Growth

India revises up 2013/14 GDP growth to 6.9 percent.  Full Article 

Adani Restructuring

Adani Restructuring

Adani hives off power, ports businesses to boost growth.  Full Article 

Bank of Baroda

Bank of Baroda

Q3 net profit down 69 pct on higher provisions  Full Article 

Trading Fees

Trading Fees

BSE slashes fees in FX derivatives battle with NSE  Full Article 

SpiceJet Turnaround

SpiceJet Turnaround

SpiceJet board approves up to $243 mln share sale plan  Full Article 

Currency Market

Currency Market

RBI urges companies to hedge FX exposure  Full Article 

Banking Sector

Banking Sector

Banks say no room to cut lending rates, thwarting RBI easing  Full Article 

ICICI Results

ICICI Results

ICICI sets quarterly record profit as Q3 net rises 14 pct  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage