US Lawmakers Slam Indian Economic Policies

Some influential American lawmakers and business representatives have formed a united front against India's alleged "restrictive" and "protectionist" trade and investment policies, which they say are a deep concern for the Obama administration.

"We're very concerned about the innovation and the investment environment in India at the moment," said Mike Froman, the National Deputy Security Advisor on economic policies to President Barack Obama while speaking to the lawmakers on Thursday.

The deputy security advisor on economic policies to the U.S. president pointed out a list of complaints against India's recent economic policies including compulsory licensing, patent issues, preferential market access and localization, which the U.S. officials said were detrimental to the U.S.-India relationship.

"We have a lot of concerns about what's going on today in India especially their emerging market access barriers, protectionist measures," said Senator Rob Portman, according to the Press Trust of India.

"One is the lack of respect for patents. Basic intellectual property protections are being set aside," Rob Portman said. They've invalidated and broken American drug patents, as I say. These actions are in disregard of WTO rules; they they're fundamentally disruptive to innovation. I think, frankly, it's a major concern, because it could spread,"

Associations representing 17 industry groups in the country have written a letter to President Obama urging his administration to address the current trade imbalance, which is allegedly caused by India's "restrictive" and "protectionist" trade and investment policies.

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