Union minister for commerce Anand Sharma said here today that India has taken up the issue of H-1B visas with the US and has written twice to the US trade representative about the restriction, “This issue will come up again during the joint press forum later this month.”
India is against any kind of restrictions imposed on the movement of professionals and trade restrictive practices, he told reporters.
Talking of Foreign Direct Investment in multi-brand retail, the minister said policy formulation was a continuous process. The government was talking to stakeholders to create an entire value chain in retail industry. “Though India is the second largest foodgrain producer, 35 per cent of our produce is wasted, post-harvest. So, India needs to create infrastructure which will benefit consumers and help in job creation, along with reducing post-harvest losses.”
On allowing FDI in the defence sector, Sharma said defence is a sensitive and strategic sector, where consensus on policy was required before taking a call. On FDI in infrastructure, the minister said India has a clear policy with regard to development of ports, highways, airports and container traffic, among others. “Whatever policy gap there is, we will consider in the future.”
On special economic zones, he said: “I share the concerns of the industry with regard to policy change in SEZ. We need to harmonise policy decisions before the full implementation of the direct tax code.”
Sharma said the government has not fixed any timeline regarding the Indo-EU free trade agreement. However, the negotiations are in advanced stages and concerns of the Indian generic pharmaceutical industry will be sufficiently addressed in the proposed FTA, he said.
The commerce ministry has recommended extension of duty entitlement passbook scheme. The decision will be taken in consultation with the finance ministry. Commenting on high inflation and the present growth rate, he said slowdown in the economy was a matter of concern, he said.
“We have already said that we need to look at the growth numbers in the present inflationary environment. However, higher inflation need to be contained.”