New Delhi, February 14: The US and EU have assured India of their commitment to the phase-out of textile quotas and integration of textiles into multilateral trading regime by the scheduled deadline of December 31, 2004. In other words, there will be no quota restrictions from January 1, 2005. This assurance was given by Robert Zoellick, US trade representative, and Pascal Lamy, EC trade commissioner, at separate meetings with commerce and industry minister Arun Jaitley in Tokyo on Friday.
Mr Jaitley also took up with Mr Zoellick New Delhi’s concern over the proposed New Jersey legislation which could have serious implications to the software industry by imposing restrictions on outsourcing of business operations to overseas countries including India, as well as the issue of the proposed anti-subsidy and anti-dumping trade measurers against Indian sea food.
He pointed out that the US market was very important for India’s seafood exports and the proposed action would adversely affect such exports. Mr Zoellick noted India’s concerns and promised to look into these issues. The scope for cooperation in the area of services between India and the US also figured in the discussions.
Mr Lamy raised the issue of generalised system of preferences concessions to textiles under the drug window waiver to some countries which was estimated to have entailed a loss of $300 million to Indian exports. India has moved the WTO for setting up a dispute settlement panel on this issue.
The minister also had an exchange of views at separate bilaterals with the Kenya trade and industry minister Mukhisa Kityui and minister for foreign trade development and industry Luiz Fernando Furlan.
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