Source: News Bharati English10 May 2016 17:01:41
New Delhi, May 10: India and the U.S. share a mutually inter-dependent and beneficial relationship in trade in services, which is well-documented. While the U.S. accounts for close to 60% of software exports from India, Indian IT professionals have had a positive role in contributing to the competitiveness of the U.S. economy.
The increasing volume of services trade has contributed to significant economic growth as well as creation of employment opportunities within the U.S. The situation therefore presents a win-win relationship for both nations.
The U.S. fee hike measures for the H-1B and L-1 categories are not only adversely affecting the competitiveness of India’s services industry engaged in the U.S. market, but also creating uncertainties for Indian service suppliers.
The H-1B and L-1 categories of non-immigrants, for which there has been a significant fee hike, correspond with the categories of specialists and intra-corporate transferees, both of which are part of U.S.’ commitments under the WTO’s General Agreement on Trade in Services.
They also run counter to the basic principles of a transparent and predictable trading environment, which lies at the very heart of the WTO agreements.
India is hopeful that deliberations during the WTO consultations shall be constructive and it would result in removal of these trade restrictive measures.