India, US hold talks to boost tech trade

While welcoming efforts by the US Government to ease restrictions on the export of high-technology dual-use items to Indian companies...

While welcoming efforts by the US Government to ease restrictions on the export of high-technology dual-use items to Indian companies, New Delhi on Friday stressed the need for having a timetable for reviewing export controls in respect of India.

At a meeting of the High Technology Cooperation Group (HTCG), both India and the United States were of the view that trade in high-tech items needed to be taken to the next level of bilateral cooperation, in keeping with the transformed nature of the strategic partnership between the two countries.

In this regard, the two sides discussed the recommendations made by the Indian industry which had identified areas of common interest requiring specific action by both the countries.

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In a significant step towards easing controls, the United States had recently offered the Validated End-User Programme (VEU) to Indian companies by which industries with a demonstrable track record can seek a general authorisation for certain products instead of applying for individual licenses every time they need to import.

The two sides discussed VEU at the meeting on Friday and agreed that further discussions were required as US export control policies should keep pace with the transformed relation between India and the US, a statement said.

The US delegation at the meeting was led by Under Secretary of Commerce for Industry and Security Mario Mancuso while Foreign Secretary Shivshanker Menon headed the team from

the Indian side. Representatives of CII, FICCI and the US-India Business Council were also present during the meeting.

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