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India asks US to lift sanctions

Our Bureau

NEW DELHI, Jan. 18

INDIA has sought pruning the list of entities to which US exports has been restricted, lifting of the sanctions on lending by international financial institutions for non-humanitarian purposes and resuming the facility of Generalised Scheme of Preference s (GSP) to a large number of Indian projects.

The Finance Minister, Mr. Yashwant Sinha, who held deliberations with the visiting US Treasury Secretary, Mr. Lawrence H Summers, also sought greater co-operation and concrete steps in furthering economic ties between the two countries. Mr. Sinha also ca lled for reviving the Indo-US Joint Commission.

``I have flagged the issue of reducing the entities list at today's meeting. Mr. Summers has promised to convey India's concerns to Washington on this issue. We have agreed to take concrete steps to strengthen US-India in the next few months'', Mr. Sinha said.

The two sides held useful discussions on economic and trade issues and issues of bilateral importance. Mr. Sinha told the US Treasury Secretary that India was firmly on the path of reforms and a number of legislations including the Insurance Bill, FEMA B ill had been approved by Parliament.

He pointed out that the Government plans to hold India road shows in the near term to project the country as an investment destination.

Mr. Summers said that India should further expand the capital market.

Earlier, Mr. Summers met the Prime Minister, Mr. A.B. Vajpayee, and discussed about the US President, Mr. Bill Clinton's forthcoming visit to India.

Pic.: The US Treasury Secretary, Mr. Lawrence Summers, calling on the Prime Minister, Mr. A.B. Vajpayee, in New Delhi on Tuesday.