The US wants India to eliminate trade barriers for American companies and remove restrictions with regard to data localisation to cut the cost of doing business, visiting US Commerce Secretary Wilbur Ross said Tuesday. "... currently US businesses face significant market access barriers in India. It has for example a 60 per cent tariff on auto, while the US has 2.5 per cent. He mentioned that India is the US's 13th largest export market due to "overly restrictive" market access barriers. Referring to trade imbalance with India, the commerce secretary said the US accounts for 20 per cent of India's total exports.

Source: dna May 07, 2019 10:18 UTC