Lifting of sanctions hinges on security talks: Summers

By Our Special Correspondent

BANGALORE, JAN. 19. The American Secretary of the Treasury, Mr. Lawrence H.Summers, has said that the question of granting the `Most Favoured Nation' (MFN) status to India could be considered only if Indian companies adhered to the Intellectual Property Rights (IPR) regime.

He was speaking to presspersons after meeting the Karnataka Chief Minister, Mr. S. M. Krishna, and the State Large Industries Minister, Mr. R.V.Deshpande.

Mr. Summers said it was for the U.S. companies operating in India to say whether their Indian counterparts respected the IPR regime. He said that there were still problems to be sorted out by the two countries in fields such as agriculture and pharmaceuticals.

The top American official who had declined to answer questions relating to the lifting of sanctions against India at his press conference in Delhi on Tuesday, however was forthcoming to some extent. Stating that he had no announcement to make, he, however, noted that the dialogue between the two countries on security issues was going on.

Security concerns were beyond sanctions. Mr. Summers said even otherwise the two countries were moving towards cooperation in a whole range of fields.

PTI reports:

Mr. Summers today said the lifting of economic sanctions against India depends on the outcome of the Indo-U.S. Talks on security- related issues being held in London.

Mr. Summers, who is here as part of a four-day visit to the country, told reporters after talks with the Karnataka Chief Minister, Mr. S. M. Krishna that he was confident that both countries would come to an understanding on security issues.

But resolving security issues formed the basis for the `formalisation' of all economic relations between the two countries, he said adding a timetable for the withdrawal of sanctions ``depend on how the talks proceed.''

Indicating that the U.S. was keen to strengthen economic ties with India, Mr. Summers said. ``a great deal was happening in India. The President (Mr. Bill Clinton) is looking forward to the visit'' to India expected to take place in February or March.

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