Eric Shimp, a policy advisor for the firm’s Litigation & Trial Practice, Global Business Strategies, International Trade & Regulatory and Legislative & Public Policy Groups, was quoted in a Law360 article discussing the meeting between President Obama and India Prime Minister Manmohan Singh, where their focus was increasing economic cooperation between the United States and India and they discussed the remaining obstacles to a formal investment treaty.
Shimp says that although a possible investment treaty with India has been on the U.S. agenda for several years, progress has been stymied in part because of Indian regulations.
“Clearly, most of the barriers are on the Indian side,” he said. “There's very little that U.S. policy can do to get India across its own finish line.”
According to Shimp, Indian's regulation of financial services has limited investment from the U.S. and other countries.
“Financial services is a high priority for the United States, and it's going to be very hard to unwind from the Indian perspective,” he said.