 "Remove trade barriers: US, European business groups to India")
In a joint letter to Commerce and Industry Minister Nirmala Sitharaman, they called on India to lower tariffs, raise investment caps, end localisation requirements and strengthen intellectual property protection and enforcement.
This, they said, is important to cut costs and improve the transparency, reliability and consistency of India's policy and regulatory framework.
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In the letter, they supported a single federal goods and services tax and swift implementation of WTO Trade Facilitation Agreement commitments.
"US and European companies alike face significant challenges in the Indian market and look forward to promised improvements in India's trade and investment policies," said National Association of Manufacturers (NAM) vice president of International Economic Affairs Linda Dempsey.
"We welcome opportunities to work with Minister Sitharaman and with our own governments to address barriers and achieve lasting solutions," Dempsey said.
The organisations which signed the letter are BUSINESSEUROPE, National Association of Manufacturers, European Automobile Manufacturers' Association, European Chemical Industry Council, DIgitalEurope, Distilled Spirits Council of the US, European Federation of Pharmaceutical Industries and Associations, and European Services Forum.
Other signatories are European Apparel and Textile Confederation, National Electrical Manufacturers Association, National Foreign Trade Council, European Engineering Industries Association, spirits EUROPE and Telecommunications Industry Association.
"By reducing import tariffs and export duties in key industrial sectors, by raising investment caps and eliminating local content and certification requirements across all sectors and by strengthening the protection and enforcement of intellectual property rights, India can establish the kind of trade and investment regime that clearly sets it apart from competition in Asia and beyond," the letter said.