Monday, March 20 2006 13:48 Hrs (IST) - World Time -

New Delhi: The US-India CEO forum has come out with a far-reaching reform agenda including opening up of retail sector and raising FDI caps in insurance, banking, print media and broadcasting.

In a 26-point agenda to create enabling environment for attracting more foreign investment, the US-India CEO forum wanted specialised courts to enforce Intellectual Property Rights laws.

The report tabled in the Lok Sabha today (Mar 20 2006) stressed on power sector reforms to ensure sanctity of contracts, encourage competition, promote market-driven tariffs and set up separate regulatory and adjudication authority.

It also suggested relaxation of US government rules to transfer high technology to India and extension of COMSAT rules to India and ISRO.

According to the report, the US should allow and accelerate transfer of dual use technology to India and liberalise US visa regime for service providers in IT and nurses.

The US-India CEO Forum, comprising selected CEOs from both countries, was given a mandate to develop a roadmap for increased partnership and cooperation between two countries at business level.

The document, tabled by Minister of State in PMO Prithviraj Chauhan on behalf of Prime Minister Manmohan Singh, has recommended specific action in 15 business sectors with the potential for significantly enhancing trade and investment through policy initiatives.

The Forum wanted India to consider reducing restriction on FDI in the retail sector, move ahead on urban land reforms, streamline the regulatory, tax and duty structure, and revamp stamp duty and title registration regimes.

It suggested India should consider treating dividends from overseas companies in the hands of Indian residents at par for tax as domestic dividends to make "outward FDI no less attractive."