The US has expressed concern over Indias lack of transparency in its trade policy,as a result of which small and medium-sized enterprises have difficulties in investing and doing business in the country. The US continues to be concerned about the lack of transparency in many aspects of Indias trade policy, Michael Punke,US Ambassador to World Trade Organization (WTO) said at the WTO Trade Policy Review (TPR) of India in Geneva on Wednesday,according to transcripts available here. This contributes greatly to the difficulties of firms,particularly small and medium-sized enterprises,trying to invest in and trade with India,and helps explain Indias ranking of 165 out of 183 countries in the World Banks 2011 Doing Business report,he said. In addition to Indias failure to submit required notifications to the WTO,particularly in the areas of agriculture,subsidies,SPS and TBT,India does not regularly issue draft regulations or engage in the timely public consultations that would ensure the development of sound policies in matters affecting trade and investment, Punke said. Traders often face difficulties in areas like customs valuation,tariffs and other charges,internal taxation,import licensing,and trade remedies,because of opaque or inconsistently-applied procedures,Punke said,adding that a uniform,all-of government approach to the development of regulations would go a long way to addressing these concerns.
