'US removing 9 Indian cos from Entities List will boost trade'

'US removing 9 Indian cos from Entities List will boost trade'

Removal from the Entity List eliminates a licence requirement specific to companies for export purposes.Meeting the long pending Indian demand, the Obama Administration on the eve of India's Republic Day removed from its entities as many as nine India space and defence related companies, including those from the Indian Space Research Organization (ISRO) and Defense Research and Development Organization (DRDO).

"These first steps will go a long way in strengthening our strategic partnership and boosting high tech trade," the chamber said.

The entities being removed include Bharat Dynamics Ltd, Armament Research and Development Establishment, Defense Research and Development Lab, Liquid Propulsion Systems Center, Sriharikota Space Center, and Vikram Sarabhai Space Center.

It said that while these are positive initial steps, a lot more remains to be done in realising the full potential of the US-India partnership in high technology.

"Ongoing initiative like High Technology Cooperation Group (HTCG), Joint Science and Technology Commission and recently launched Indo-US R&D Endowment Fund for Innovation can be leveraged in this direction," it added.US Secretary of Commerce Gary Locke will lead a business delegation on a high-tech trade mission to India next month, it said.Locke would visit Delhi, Mumbai and Bangalore.