Visa, IPR issues under focus

India and the United States on Sunday decided to resume talks on ‘totalisation agreement’ and bilateral investment treaty which will help to improve economic ties between the two nations.

The US also affirmed its commitment to enhance India’s ‘voice and vote’ in global financial institutions like IMF.

India has been pressing for higher voting rights in IMF which would reflect its grow- ing influence in world economy. The two nations also agreed to enhance their engagement on intellectual property rights (IPR), a controversial issue between the two countries.

Both nations also reaffirmed the importance of providing transparent and predictable policy environment for fostering innovation.

In the past, the United States companies have alleged that India’s IPR regime has been discriminatory. Prime Minister Narendra Modi during a joint press conference with the visiting US President Barack Obama said that both countries have established a number of effective bilateral mechanisms to identify opportunities and also help “our businesses trade and invest more.”

Mr Obama said that in the last few years, trade between the two countries has increased by some 60 per cent, towards a record $100 billion.

“We want to trade even more,” said the US President.