India, US Officials to Meet After Budget to Discuss Investment

Published: 27th January 2015 04:48 PM  |   Last Updated: 27th January 2015 04:48 PM   |  A+A-


NEW DELHI: Senior officials of India and the US will meet after the forthcoming Budget session to identify and prioritise sectors for investments and technology sharing.

"We will have a group of officials from both the sides. They will sit and identify sectors where priority investments can come in and where technology can come in," Commerce and Industry Minister Nirmala Sitharaman told reporters after meeting her US counterpart today.

During the 40-minute meeting between Sitharaman and US Commerce Secretary Penny Pritzker, issues related to the totalisation agreement, intellectual property rights (IPRs) and visa also come up for discussion.

The minister invited comments from the US on the draft IPR policy, which was prepared a six-member think tank.

"We invited the Americans to have a look at the policy and invited inputs from them on the draft policy," she added.

The US companies have alleged that India's IPR regime is discriminatory, particularly for pharmaceutical industry. But India has consistently maintained that its laws are compliant with global and WTO norms.

The Indian side highlighted the recent policy decisions such as hiking foreign direct investment cap in insurance and defence sectors, where American companies can invest.

"We have asked for possibilities where technology could be shared too and also to bring in investments to help small and medium enterprises of India," she said.

She added: "We need to have a task force working on getting investments, identifying and prioritising sectors where investments can come in (from the US)."

On the other hand, American side raised the issues related with taxation regime of the country.

India has attracted USD 13.28 billion during April 2000 and November 2014 from the US.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp