Ahead OF the US President Barack Obama's visit, India Inc is looking for closer cooperation with the US in terms of relaxation of restriction in technology transfer in the fields of biotechnology and defence.
"Among various trade issues, technology transfer is one field where we seek some relaxation as it will create a new field of Indo- US strategic trade cooperation," Amit Mitra, secretary general, Federation of Indian Chambers of Commerce and Industry ( Ficci), said.
"The US is still reluctant on technology transfer to India. India needs more than 750 types of biotechnology products like vaccines from the US. However, we cannot get it as they come under the restricted product category for trade," Mitra added.
He was speaking at a business meet on US- India strategic partnership organised by Ficci and Brookings Institute, ahead of Obama's visit to India on September 7.
At present, the US has a system of export control for items like chemicals, biotechnology and defence products in terms of crime control, regional stability concerns, non- proliferation and missile proliferation.
It restricts the export to certain countries of several items right from products required for vaccines to high- end defence items in order to control the double use and misuse of those products.
"Already India was being denied 10 of the 16 nomenclatures, including chemicals and biological materials and technologies, which falls under nonproliferation, national security, missile technologies and crime control. That export regime must be relaxed," Mitra said.
According to Stephen Cohen, senior fellow Brookings Institute, there are as many as about 40 countries, including India, which face restrictions regarding import technology from the US. " We have seen some positive dialogues in this regard during the last visit of the Indian Prime Minister," Cohen said.
"There is higher scope for cooperation in the field of defence technology. India has been pitching for it since long and can expect some relaxation of norms during the US President's visit," Cohen told reporters on the sidelines of the meet.
Apart from defence, education is another area where India can seek greater cooperation with the US. None of Indian Universities are in the top 100.
"We are yet to see an aggressive partnership in the field of education and a second Green Revolution. Seeing the huge Indian market and the US expertise, it can be a win- win situation for both the countries," Mitra said.
Courtesy: Mail Today