Doing some tough-speaking, Commerce and Industry Minister Nirmala Sitharaman has said the US Special 301 report on IPR is a "unilateral" move and no country has any right to interfere in the sovereign position of other nation.
The four-month window for declaring domestic black money will open on June 1 and those opting to come clean by paying 45 percent tax and penalty will not be subject to scrutiny and enquiry by tax department.
US Ambassador Richard Verma on Thursday conveyed concerns over business-related issues such as IPR and arbitration after which India assured him that the government was taking a number of steps including amending arbitration law for faster disposal of business disputes.
India has a robust legal framework and it has always been on the side of the law with regard to intellectual property right (IPR) matters and fully compliant with WTO on the issue, Commerce Minister Nirmala Sitharaman said on Saturday.
India continues to be perceived as a tough place to do business even while there is renewed enthusiasm and confidence in the Indian economy and great potential for US-India business collaboration, the US said Tuesday.
Issues related with intellectual property rights, including piracy of films and software, figured prominently during the India-US CEO Forum here attended by Prime Minister Narendra Modi and US President Barack Obama.
Prime Minister Narendra Modi today wooed US investors promising a predictable tax regime, removing "remaining uncertainties" and an open business environment as President Barack Obama pledged USD 4 billion in investment for trade with India.
India invited the United States for discussion on the intellectual property rights (IPR) issue after the general elections, while making it clear that it won`t allow any unilateral probe from American authorities.
The US Wednesday put India and nine other countries on its Priority Watch List to highlight what it called "growing concerns with respect to the environment for Intellectual Property Rights (IPR) protection and enforcement".