US traders facing barriers in India, report

US traders facing barriers in India, reportAccording to a new report, exporters from the United States continue to face tariff and non-tariff barriers while trading with India even as the Asian country implements its reform process in the economy.

The US Trade Representatives (USTR) released the report titled, ‘2012 National Trade Estimate Report on Foreign Trade Barriers’, in which it said that the US government has been actively seeking bilateral and multilateral opportunities to open up the Indian market.

A part of the report read, “The structure of India's customs tariff and fees system is complex and characterised by a lack of transparency in determining net effective rates of customs tariff, excise duty and other duties and charges on imports into India.”

The report said that the US trade deficit with India was US $ 14.5 billion in 2011 compared to US $ 4.3 billion in 2010. The total goods exports from the US increased 12.4 per cent to US $ 21.6 billion while on the other hand, the imports to the US rose 22.5 per cent to US $ 36.2 billion.

The report pointed out that India is currently the 17th largest export market for US goods.