US slams India's 'restrictive' policies in foreign investment, trade

Criticises India's policy in retail trading; insurance, banking, telecom, digital sectors

The United States (US) has slammed India's trade policies for imposing various sorts of barriers, including registration requirements, product approval norms and restrictions on foreign ownership. 

A report on foreign trade barriers by the United States Trade Representative (USTR) came at a time when the country under President Donald Trump is itself facing severe flak for adopting a protectionist stance.

The report criticises restrictions imposed by India on retail trading — either single brand or multi-brand. 

It says India requires government approval for retailers selling a single brand of product if foreign ownership is above 49 per cent. Foreign investments