Friday, August 02, 2013: According to a news report, a leading US trade association, the US-India Business Council (USIBC), has welcomed the Indian government’s decision to review the preferential market access (PMA) policy for domestically manufactured electronic goods.
USIBC comprised of more than 350 of the top-tier US and Indian companies said it has consistently argued for market-based incentives, not mandates, to encourage manufacturing in India.
Ron Somers, president, USIBC has reportedly said that there are many US companies manufacturing in India, and they want to expand based on market-based principles, including adequate infrastructure, business-friendly policies, and access to a skilled workforce -all elements associated with a free-market economy.