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Old 28th February 2007, 00:14   #1
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Default Harley davidson,bank branch in NY and mangoes

Whats the relation between the three ,read on..

Govt links Harley's entry to bank licences in US

While India has made it clear that it was not in a position to allow Harley Davidson's import without complying with the Euro II emission norms, it has indicated its willingness to follow a system of tariff rate quotas (TRQs) that will mean lower customs duty for a certain number of bikes (say 1,000), beyond which the applicable customs duty will be levied.

But officials said India will give the method a try if the US government was willing to grant fresh branch licences to ICICI Bank, SBI and Bank of Baroda, whose proposals have been pending for several years and also fast-track new rules for export of Indian mangoes.

"Indian negotiators have made it clear that any progress on Harley Davidson's case has to be linked to the progress on banking licences. Since US is more than keen to get a favourable dispensation for the bike maker, India is simply trying to seize the chance to negotiate a better deal for its banks,"said a negotiator.

Govt links Harley's entry to bank licences in US-India Business-NEWS-The Times of India
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