Repost from World Net Daily.
Unfair Trade Deal
BEHIND INDIA’S GLITTERY ‘ENTREPRENEURSHIP SUMMIT’
Curtis Ellis hopes D.C. will end preferences enjoyed by Asian nation
India just hosted the Global Entrepreneurship Summit this week. It used the glittery event to promote greater U.S. trade and investment in India, with promises of “Prosperity for All.”
When Prime Minister Narendra Modi was elected in 2014, he promised to open India’s notoriously closed economy. That same year, Modi’s government launched “Make In India” with much fanfare to lure foreign investment.
Since 1974, the United States has promoted global development by eliminating tariffs on thousands of products imported from underdeveloped countries. The program is known as the Generalized System of Preferences (GSP), and India is the prime beneficiary.
We opened our market to a huge number of Indian businesses, allowing them to sell, tariff-free, everything from textiles, gems and jewelry to manhole covers. India’s products were more attractive to American consumers than similar products from other countries.
In return, India’s government is working overtime to keep American products and businesses out.