Though the US has got together a number of vetted and potential Indian business partners, most of these companies say they haven't had much luck in stitching up deals to tap into India as an export market for their goods.
While India does not figure in the top 10 export destinations for Pakistani goods, it serves as a crucial channel for select goods such as leather hides and cheaper variants of fertilisers that are generally procured by importers at short notice.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Among the current FTAs with significant trade deficits for India, five are with countries from the 10-nation Asean bloc. Exports to the 10 economies stood at $ 37.4 billion in 2018-19, up by 9% year on year. On the other hand, imports were higher at $ 59.31 billion, up by 25% from the previous year's $ 47.13 billion.
As India looks to mend its Covid-battered economy, one thing that will grab the attention of all concerned is the path that both wholesale and retail inflation will follow. Even the Reserve Bank of India in its latest policy statement said, "Going forward, the inflation trajectory is likely to be shaped by uncertainties impinging on the upside and the downside.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Department of Economic Affairs secretary Atanu Chakraborty said that equity capital flows have been positive this year.
The White House and the Indian-American community are solidly backing the nomination of Neera Tanden as the director of Office of Management and Budget, describing her as the most appropriate candidate to hold the position.
Aiming to push India into the list of the top 10 agri export nations, the policy has been backed by the Prime Minister's Office
India will export anti-malarial drug hydroxychloroquine, high in demand globally, only to foreign governments and not to private companies, as the product is under prohibited or banned category of exports, sources said. Although exports of this medicine is completely banned, India has decided to export this anti-malarial drug in sync with its global commitment to deal with the coronavirus pandemic.
Union Railway Minister Piyush Goyal said that even he finds it difficult to remember it sometimes and would be better to have a name that is easy to remember while browsing the internet
'Young professionals should be open for jobs in adjacent industries, pick up a contract job to have an opening balance, develop skills in the job in hand, invest in learning and develop cognitive skills and capacities.' 'Spend as per the need only.'
According to industry figures, the pre-Covid demand for liquid medical oxygen (LMO) before the pandemic was 700 tonnes per day across the country. Now, with the second wave, the demand has gone up more than seven times, reports Jyoti Mukul.
The nuclear nonproliferation lobby has urged the United States administration to ensure that America's dual-use technology is not diverted by New Delhi to its nuclear weapons programme.
The queries can now be addressed to and their responses accessed from the makeinindia.com website that was unveiled along with the campaign aimed at making India a manufacturing hub by Modi at a mega event in New Delhi on Thursday.
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
Rediff reader Kiran Mestry, 49 from Mumbai tells us how her first salary changed her life.
States and Union Territories have been given the powers for delineation of Red, Green and Orange Zones as per COVID-19 situation, the MHA said. All shops, except those in containment zones and malls, will be allowed to open from Monday with staggered timings during lockdown 4.0, it said.
Chief Minister Arvind Kejriwal urged the Centre to provide medical oxygen to Delhi.
The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
GVK Biosciences is the latest Indian firm to come under international scrutiny over quality issues.
The commerce ministry has recommended the continuation of anti-dumping duty on a Chinese chemical used in food and pharma industry with a view to guard domestic players from cheap imports. In a notification, the ministry's investigation arm, the Directorate General of Trade Remedies (DGTR), has said there is a "positive" evidence of likelihood of dumping of Sodium Citrate and injury to the domestic industry if the existing anti-dumping duty were to be removed.
'For Indian firms supplying global majors, coronavirus is both a threat and an opportunity.'
'Aquaponics can effectively cushion the impact of a calamity like COVID.'
December 2022 could be the last Christmas for Santha Bakery, a business drawing its lineage from the first Christmas cake baked in Kerala.
The cover provided under the Centre's Pradhan Mantri Suraksha Bima Yojana, which is a vital safety net for them, ended almost a year back on May 31, 2020. Ever since, there hasn't been much progress on the higher insurance coverage of Rs 5 lakh promised under the newly launched Pradhan Mantri Matsya Sampada Yojana, reports Sanjeeb Mukherjee.
National Security Advisor Susan Rice, influential business leaders and a host of other lawmakers, including Indian-American Congressman Ami Bera, would be travelling with President Barack Obama to attend India's Republic Day celebrations.
In moves that may benefit Indians applying for business visas to visit America, the United States State Department and Department of Homeland have announced a number of steps to expedite the processing time for visas.
US Commerce Secretary, John Bryson said his country needs to build on the momentum in manufacturing sector.
After defence, the Commerce and Industry ministry has started the exercise to relax foreign investment norms in the railways sector by permitting 100 per cent FDI in high-speed train systems and dedicated freight lines.
The MFN (Most Favoured Nation, meaning non-discriminatory treatment for each other) issue is of prime importance to India, as it wants to have greater access in the Pakistani markets.
'If Indians are to be truly protected, Parliament must review and address these dangerous provisions before they become law.'
United States President George W Bush has sent the nomination of Santanu K Baruah, an Indian-origin former management consultant whom he picked as an Assistant Secretary of Commerce for Economic Development, to the Senate for approval.
The new entrants are young, enterprising Chinese men and women who want to tap into the promising Indian market.
The order led to panic in Kashmir which has remained tense for the past few days after the Centre ordered deployment of 100 companies of additional troops in the valley.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
The United States has set in motion regulatory changes to lift the ban on India's frontline technology establishments Indian Space Research Organisation and Defence Research and Development Organisation and their removal from the entities list could come soon, top American officials have indicated. A formal notification of the US Department of Commerce for this is in the advanced stage, they said.
