New Coalition Seeks to Level the Playing Field for U.S. Businesses Competing in India

New Coalition Seeks to Level the Playing Field for U.S. Businesses Competing in India

06.18.13 | By Jay Taylor

A new alliance was launched today to begin educating the public and policymakers about the growing imbalance with the United States’ trading relationship with India and the potential consequences for American job losses if these concerns are not addressed.

The Alliance for Fair Trade with India (AFTI), representing many of the most important and innovative sectors of our economy, officially kicked off this morning with the U.S. Chamber of Commerce and the National Association of Manufacturers (NAM) leading the effort. PhRMA is proud to represent America’s biopharmaceutical companies as part of this new initiative to level the playing field for U.S. job creators, and help preserve and grow the kinds of high-paying jobs that will be critical for our economic future.

America’s biopharmaceutical companies, in addition to developing new lifesaving medicines for the world’s patients, are also a vital cog in our knowledge-based economy. Industries that rely heavily on intellectual property and innovation such as life sciences, technology, and renewable energy pay up to 30 percent more than average private-sector wages and directly or indirectly employ more than 55 million Americans. And the exports generated by these sectors will become increasingly important as America seeks to secure our competitive advantage on the world stage over the long term.

That’s why it’s necessary for our government to ensure that the U.S. is able to compete fairly with other nations across the globe, and especially in growing markets like India. When other countries don’t play by internationally recognized rules, U.S. jobs and innovation suffers. And while there are few restrictions on goods coming to the U.S. from India, the Government of India (GOI) has recently undertaken a series of initiatives, including revoking patents and forced local manufacturing rules, which are increasingly shutting U.S. competition out of their markets.

We look forward to working with AFTI to help U.S. policymakers in Congress and the Obama Administration develop pragmatic solutions to resolve these issues and restore the longstanding and fruitful relationship we have historically had with India. Both of our nations have too much at stake to allow these rifts to grow any deeper.  For more information on AFTI, check out the website, http://aftindia.org/

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