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Mizzima: U.S sanctions to be lifted
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U.S sanctions to be lifted soon: US Congressmen
New Delhi, February 21, 2001
Mizzima News Group (www.mizzima.com)
The United States would soon lift the economic sanctions imposed against
India after India conducted nuclear tests in 1998, according to the
visiting US Congressional Delegation. This was stated at a meeting
organised by the Confederation of Indian Industry (CII) in New Delhi
today.
The US delegation to India comprised of the two co-chairs of the Caucus
on India and Indian Americans, Congressman Edward Royce (R-Ca) and
Congressman Jim McDermott, (D-Wa). They were accompanied by Congressman
David Bonior (D-Mi), the House Minority Whip.
Congressman McDermott said that he was optimistic that the present
administration would initiate measures to lift these sanctions soon. He
was of the view that sanctions have an adverse impact on both nations
and hence needed to be reviewed.
Congressman McDermott added that the US placed tremendous importance on
its relations with India. He pointed out that the State Department was
working hard to maintain the momentum of the relationship and assured
the participants that the post of US Ambassador to India would not be
left vacant.
Congressman Ed Royce, in his remarks highlighted the need to facilitate
trade and investment links between India and the US. He stated that the
Caucus was trying to convince American business that investing in a
country like India, which followed a democratic system, was more
profitable in the long term than investing in a country that did not
have such a system.
According to Congressmen Royce, the Caucus on India and Indian Americans
has 123 members and this was the most populous and second most powerful
Caucus in Congress. The Caucus, he stated, was working hard to get
American companies focused onto trade and investment opportunities in
India.
With reference to the comments of Congressmen of the India caucus on
lifting of sanctions, Mr Neal Wolin, Visiting Fellow, Brookings
Institute and Former General Counsel, US Department of Treasury, who is
also currently in New Delhi, said that the new US administration was
quite skeptical of the efficacy of the sanctions, especially in light of
the increased emphasis on the open market regime.
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<center><u><font face="Arial Black"><font color="#000099"><font size=+1>U.S
sanctions to be lifted soon: US Congressmen</font></font></font></u></center>
<p><font size=+1>New Delhi, February 21, 2001</font>
<br><font size=+1>Mizzima News Group (www.mizzima.com)</font>
<p><font color="#660000"><font size=+1>The United States would soon lift
the economic sanctions imposed against India after India conducted nuclear
tests in 1998, according to the visiting US Congressional Delegation. This
was stated at a meeting organised by the Confederation of Indian Industry
(CII) in New Delhi today.</font></font>
<p><font color="#660000"><font size=+1>The US delegation to India comprised
of the two co-chairs of the Caucus on India and Indian Americans, Congressman
Edward Royce (R-Ca) and Congressman Jim McDermott, (D-Wa). They were accompanied
by Congressman David Bonior (D-Mi), the House Minority Whip.</font></font>
<p><font color="#660000"><font size=+1>Congressman McDermott said that
he was optimistic that the present administration would initiate measures
to lift these sanctions soon. He was of the view that sanctions have an
adverse impact on both nations and hence needed to be reviewed.</font></font>
<p><font color="#660000"><font size=+1>Congressman McDermott added that
the US placed tremendous importance on its relations with India. He pointed
out that the State Department was working hard to maintain the momentum
of the relationship and assured the participants that the post of US Ambassador
to India would not be left vacant.</font></font>
<p><font color="#660000"><font size=+1>Congressman Ed Royce, in his remarks
highlighted the need to facilitate trade and investment links between India
and the US. He stated that the Caucus was trying to convince American business
that investing in a country like India, which followed a democratic system,
was more profitable in the long term than investing in a country that did
not have such a system.</font></font>
<p><font color="#660000"><font size=+1>According to Congressmen Royce,
the Caucus on India and Indian Americans has 123 members and this was the
most populous and second most powerful Caucus in Congress. The Caucus,
he stated, was working hard to get American companies focused onto trade
and investment opportunities in India.</font></font>
<p><font color="#660000"><font size=+1>With reference to the comments of
Congressmen of the India caucus on lifting of sanctions, Mr Neal Wolin,
Visiting Fellow, Brookings Institute and Former General Counsel, US Department
of Treasury, who is also currently in New Delhi, said that the new US administration
was quite skeptical of the efficacy of the sanctions, especially in light
of the increased emphasis on the open market regime.</font></font>
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