MP Rana
Two US senators have requested US International Trade Commission (ITC) to initiate a scrutiny in Indian Trade Barriers. They believe that the low contribution of imports of agricultural products from US is due to the inappropriate import policy of India.
Despite US being the top exported of lentils, peas and wheat, the contribution to Indian agricultural imports is a minimal 5 percent. This prompted Max Baucus (Senate Finance Committee Chairman) and Charles Grassley (Iowa republican) to ask the authority for carrying out a detailed study of the effect exerted by the tariff and non-tariff barriers of the Indian Import Policy on US exports. This study will be done for period of 2003-08 and report will be presented in ten months. It will help in revealing the reasons for low presence of US in Indian markets.
This decision came as the two nations are at conflict regarding the degree to which major developing countries should open their markets of manufactured goods and farm.
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