{"id":14212,"date":"2021-03-04T00:00:00","date_gmt":"2021-03-04T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/04-03-2021\/u-s-trade-report-flags-challenges-from-make-in-india\/"},"modified":"2021-03-04T00:00:00","modified_gmt":"2021-03-04T00:00:00","slug":"u-s-trade-report-flags-challenges-from-make-in-india","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/04-03-2021\/u-s-trade-report-flags-challenges-from-make-in-india","title":{"rendered":"U.S. Trade Report flags challenges from \u2018Make in India\u2019"},"content":{"rendered":"<p><strong>In News &#8211;<\/strong>India\u2019s trade-restrictive policies have inhibited the <strong>potential of the bilateral trade <\/strong>relationship between <strong>India and the US <\/strong>according to the <strong>2021 President\u2019s Trade Agenda <\/strong>and <strong>2020 Annual Report.<\/strong><\/p>\n<ul>\n<li>It is an annual report submitted by the<strong> U.S. Trade Representative (USTR) to Congress.<\/strong><\/li>\n<\/ul>\n<p><strong>Key Highlights of the report<\/strong><\/p>\n<ul>\n<li>According to the report, the United Kingdom remained the largest <strong>supplier of services,<\/strong> accounting for <strong>USD 62.3 billion of total US services imports in 2019<\/strong>, India was the sixth <strong>largest with USD 29.7 billion after Canada (USD 38.6 billion), Japan (USD 35.8 billion), Germany (USD 34.9 billion) and Mexico (USD 29.8 billion).<\/strong><\/li>\n<li>The USTR highlighted the<strong> proposal by India and South Africa<\/strong> to waive the <strong>implementation, application, and enforcement of commitments <\/strong>on <strong>patents, copyright, industrial designs<\/strong>, and <strong>undisclosed information<\/strong> (including trade secrets) under the <strong>WTO TRIPS Agreement.<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Issues &#8211;<\/strong>\n<ul>\n<li>Indian emphasis on <strong>import substitution<\/strong> through a \u201c<strong>Make in India&#8221; campaign<\/strong> has epitomized the <strong>challenges facing the bilateral trade relationship <\/strong>because India\u2019s large market, economic growth, and progress towards development make it an <strong>essential market for many U.S. exporters.<\/strong><\/li>\n<li>The US has sought i<strong>ncreased access for its companies<\/strong> to<strong> India\u2019s dairy<\/strong> and <strong>poultry markets, wants medical devices<\/strong> to be<strong> freed<\/strong> from <strong>government-regulated pricing, and resolve issues regarding IT goods<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<ul>\n<li><strong>Steps &#8211;<\/strong>\n<ul>\n<li>The U.S. tried to <strong>resolve \u201clong-standing market access impediments <\/strong>affecting <strong>U.S. exporters\u201d with India during 2020.<\/strong><\/li>\n<li>Subsequent to the suspension of<strong> India&#8217;s GSP benefits,<\/strong> the <strong>US and India <\/strong>resumed intensive work in the fall of<strong> 2019<\/strong> aimed at <strong>producing a package of meaningful market<\/strong> access <strong>outcomes, and this engagement <\/strong>continued <strong>throughout 2020.<\/strong>\n<ul>\n<li>The objectives of the US in this negotiation included the <strong>resolution of various non-tariff barriers, targeted reduction <\/strong>of <strong>certain Indian tariffs, and other market access improvements.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>The United States also engaged with India on an <strong>ongoing basis throughout 2020<\/strong> in response to <strong>specific concerns affecting the full range <\/strong>of<strong> pressing bilateral trade issues<\/strong>, including <strong>intellectual property (IP) protection and enforcement<\/strong>, <strong>policy development affecting electronic commerce and digital trade, and market access for agricultural and non-agricultural goods and services<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>India -US Trade Relations: <\/strong>The U.S. is India\u2019s largest trading partner, goods and services combined.\n<ul>\n<li>Bilateral trade in goods and services grew by more than 10% per annum over the past two years to reach US$ 142 billion in 2018<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<table border=\"1\" cellspacing=\"0\" style=\"width:735px\">\n<tbody>\n<tr>\n<td style=\"background-color:#fff2cc; width:468.0pt\">\n<p><strong>Make In India <\/strong><\/p>\n<ul>\n<li>The Make in India initiative was launched by the Prime Minister in September 2014 as part of a wider set of nation-building initiatives.<\/li>\n<li>It is being led by the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry.<\/li>\n<li>It is devised to transform India into a <strong>global design and manufacturing hub,<\/strong> Make in India was a timely<strong> response to a critical situation.<\/strong><\/li>\n<li>The initiative basically promises the investors \u2013 <strong>both domestic and overseas \u2013 a conducive environment to turn the 125 crore population <\/strong>strong-India a manufacturing hub and something that will also create job opportunities.<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><strong>Generalized System of Preferences (GSP)<\/strong><\/p>\n<p>\u00a0<\/p>\n<ul>\n<li>It is a US trade program designed to promote economic growth in the developing world by providing preferential d<strong>uty-free entry for products<\/strong> from <strong>designated beneficiary countries and territories.<\/strong><\/li>\n<\/ul>\n<ul>\n<li>\u00a0It provides opportunities for many of the world\u2019s poorest countries to use trade to grow their economies and climb out of poverty.<\/li>\n<li>It was established by the Trade Act of 1974.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><a href=\"https:\/\/www.thehindu.com\/business\/Industry\/us-trade-report-flags-challenges-from-make-in-india-policy\/article33966691.ece\" target=\"_blank\" rel=\"noopener\">Source: TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News &#8211;India\u2019s trade-restrictive policies have inhibited the potential of the bilateral trade relationship between India and the US according to the 2021 President\u2019s Trade Agenda and 2020 Annual Report. It is an annual report submitted by the U.S. Trade Representative (USTR) to Congress. Key Highlights of the report According to the report, the United [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/1937426268277current-affairs.jpg","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=14212"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/14212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/14213"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=14212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=14212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=14212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}