Raising concerns over proposed curbs on H1B and L1 visas and withholding of duty free imports on a large number of products from India, Federation of Indian Chambers of Commerce and Industry president A C Muthiah urged the US to 'work collectively towards reversing these shortsighted and dangerous moves'.
"Concern of a so-called job loss is leading to an attack on offshore procurement and development activity, which is an antithesis to globalisation," Muthiah said addressing a meeting of Indian and American businessmen, legislators and the Indian American Parliamentary Forum in Washington.
"In addition, restrictions on movement of people via the proposed curbs on H1B and L1 visas, will adversely affect the gains made by India and the US in the knowledge domain over the years," he said.
"We must collectively work towards reversing these shortsighted and dangerous moves," Muthiah said.
"The other concern which I wish to express is about the withholding of GSP (Generalized Special Preference, i.e. duty-free imports) on a large number of products from India, amounting to a loss of trade over $600million," he said.
"If intellectual property rights (IPR) was a stumbling block, I am pleased to state that India has made substantial progress on this front and has caught up fully with our WTO commitments. If there are any minor hitches at all, FICCI is ready to take these up. Hence, I urge US businesses to endorse the restoration of GSP facilities, and heighten our trade relations," he said.
