US today expressed concern over India's system of tariffs terming the import rates as complex. Addressing an Indo-US Conclave in New Delhi US Commerce Secretary Mr Gary Locke said that India's present system discourages direct investment in India. He added that Washington wants India to provide a level playing field for its Companies. Replying to a question on FDI in Multi Brand Retail, Mr Locke said a whole host of issues were discussed during US President Barack Obama's three day visit to India. Union Minister for Commerce and Industry Mr Anand Sharma said there is need to support domestic sector but made it clear that Government does not favour Protectionism.Terming Obama's visit as fruitful Mr Sharma said that Agricuture, Infrastructure, Energy and Health Care are among a few sectors which offer great potential to generate jobs in both the countries.
News On AIR | November 9, 2010 3:59 PM
US wants India to provide level-playing field for its companies by amending tariff terms