Ways and Means, Senate Finance Leaders Respond to ITC’s Investigation of India’s Industrial Policies
Washington, DC – House Ways and Means Committee Chairman Dave Camp (R-MI) and Ranking Member Sander Levin (D-MI), and Senate Finance Committee Chairman Ron Wyden (D-OR) and Ranking Member Orrin Hatch (R-UT) today announced the public release of the results of the U.S. International Trade Commission’s (ITC) Investigation No. 332-543, “Trade, Investment, and Industrial Policies in India: Effects on the U.S. Economy.” The investigation was requested by the Committees on August 2, 2013, under section 332(g) of the Tariff Act of 1930 (19 U.S.C. § 1332(g)) regarding India’s industrial policies that discriminate against U.S. exports and investment and support Indian domestic industries.
“We are at a pivotal moment for the U.S.-India relationship,” said Reps. Camp and Levin and Sens. Wyden and Hatch. “Prime Minister Narendra Modi, who recently took the helm of the Indian government, has spoken of a pro-growth vision for India. We are hopeful that we may see a deepening expansion of our long-term trade and investment relationship, which has already risen to nearly $100 billion.
“At the same time, we remain concerned about systemic and continuing market access barriers identified in the ITC’s report that undermine a market-based path to development for India and diminish opportunities for U.S. workers and businesses. We urge the Indian government to address these significant areas of concern as the United States and India work to strengthen our economic relationship.
“In an effort to obtain the most comprehensive and up-to-date information possible, in light of India’s national elections, we requested in September that the Commission conduct a second investigation of India’s trade and investment practices, scheduled to be delivered to Congress on September 24, 2015. As we noted in our request letter, the purpose of this second investigation is to seek information concerning India’s policies since the first investigation. We look forward to receiving the results of the second ITC investigation next September.”