India may join China over US visa row
New Delhi: The visa row between India and United States seems to have intensified with sources telling CNN-IBN that India may join hands with countries like China and file a complaint against the US at the World Trade Organisation (WTO).
The United States may have to pay more than what it bargained for, if it does not act on the newly amended Border Security Act that hikes visa fees by $ 2000, a move that will impact Indian software companies.
Terming the bill highly discriminatory, government sources said that greater market access for US to companies in India would be affected unless India's concerns on the visa fees are addressed first. At stake are the interests of US companies in sectors like retail and even nuclear power equipment in the sub continent. India is exploring ways to corner the US at the WTO. India is exploring the option of filing a joint complaint at WTO along with China and other countries that are impacted by the higher visa fees. India may also raise this discriminatory move with President Barack Obama during his October visit to India.
Officials have also said that while the Commerce Ministry is studying the new US Act, it is convinced that the move violates global trade principles like national treatment. The new US Border Act implies that Indian companies like Wipro and TCS will fund security related expenditure in the United States. The move is expected to increase the cost burden of Indian companies by about $ 200 million annually. The question is, will the US relent on the matter at the cost of its market interests in India.
This would mean greater market access for US to companies in India would be affected unless India's concerns on the visa fees are addressed first. At stake are the interests of US companies in sectors like retail and even nuclear power equipment in the sub continent.
0 Response to "India may join China over US visa row"
Post a Comment