US body USITC launches investigation into Indian trade policies

WASHINGTON: A quasi-judicial US trade body today launched an investigation into significant changes made since mid-2014 by the new Indian government in its trade and investment policies.

The announcement in this regard by the US International Trade Commission (USITC) comes following a request made by the House Committee on Ways and Means and the Senate Committee on Finance through a letter received on September 25.

The investigation is the second probe regarding India's trade and investment policies requested by the two committees.

In 2013, the committees jointly asked the USITC, to investigate Indian policies that restrict US trade and investment. The USITC will submit its report in that investigation (Trade, Investment, and Industrial Policies in India: Effects on the US Economy), to the committees on December 15.

In the request letter for the new probe, the committees stated, "Given the recent national elections in India and the formation of a new Bharatiya Janata Party-led government, and our interest in receiving the most comprehensive and up-to-date information possible, we now request that the Commission conduct a second investigation concerning India's industrial policies that discriminate against US trade and investment since the first ITC investigation".

As requested, in its new investigation, the USITC will provide information about any significant changes by the new Indian government to the trade and investment policies identified in the Commission's ongoing investigation.

The USITC will also include information on any new relevant trade and investment policies and practices in India, focusing on the period from mid-2014, a media release said.

The USITC expects to deliver the report to the committees by September 24, 2015, the official statement said, adding that it will hold a public hearing in connection with this investigation on April 7, 2015.