In a meeting hosted by US India Business Council on Thursday night, the American industry leaders also discussed with Subbarao the need for maintaining 100 per cent foreign ownership of wholly-owned subsidiaries, and transparent priority sector lending norms.
Yet another US trade delegation to India to seek beach-head on the envisaged energy market.
A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the 'pre-show cause' notice to the company and directed it to submit further response to the Directorate General of GST Intelligence (DGGI) on the issue. India's second largest IT company had made headlines on Wednesday after GST authorities slapped a Rs 32,403 crore notice on it for services availed by the company from its overseas branches for five years starting 2017.
'You have to explain to them about Indian investments in the US creating jobs this reverse outsourcing'
Chief Adviser to Bangladesh's interim government, Muhammad Yunus, has said the issue of attacks on minority Hindus in his country is 'exaggerated' and questioned the manner in which India projected it.
The Indian government's identification of two 'greenfield' sites for commercial nuclear development, that will utilise US technology has been welcomed by the US-India Business Council (USIBC).
In a bid to restore investors' confidence after Mumbai terror attacks, the US-India Business Council has presented an optimistic assessment of the security situation in India, saying it is committed to doing trade with the country.
Contrary to expectations, the new business premium (NBP) of life insurance companies dropped 12.62 per cent year-on-year (YoY) in March 2023 due to an over 30 per cent drop in Life Insurance Corporation (LIC) of India's premiums, albeit on a high base. Data released by the Life Insurance Council shows the industry racked up NBP of Rs 52,081 crore in March 2023, compared with Rs 59,608.83 crore in the year-ago period. NBP is the premium acquired from new policies in a year. It is the sum of the first-year premium and single premium, reflecting the total premium received from new businesses.
PM promised a tax regime that is predictable and competitive
Corporate America does not believe that the United States-India relationship has been oversold, but that it's certainly over-hyped. However, it is more concerned over New Delhi's recent actions such as retroactive taxes and predicts all of this will lead to foreign direct investment drying up at a time when India needs it more than ever.
Corporate America has showered kudos on Finance Minister Pranab Mukherjee for his latest Budget, describing it as a 'very forward-looking confident budget'.
The current global downturn has made India even more desirable to Non-Resident Indians who are bullish about the country's growth and continue to invest heavily in the country of their origin, a report said.
The recession hit US today said it wants to enhance dialogue with India on key trade policy issues, including the bilateral investment treaty under negotiation.
'The transition from payment banks to SFBs is only permissible for banks not owned by corporate entities.'
Ron Somers, president of the US India Business Council said with the US economy emerging from a devastating global recession, it was fortunate for the country to have India as a "vigorous trading partner".
The US-India Business Council on Thursday announced the appointment of Ron Somers as the organisation's new president.
FHe is the only one among 17 ministers from the outgoing council of ministers who lost the Lok Sabha polls to be reappointed minister.
The government should provide home loan up to 25 lakh at a lower interest rate of 5 per cent to the people of the middle class, a prominent realtors' body appealed to the government against the backdrop of soaring home prices. G Hari Babu, president of the National Real Estate Development Council (Naredco), in an online interaction with Business Standard, said that the middle class in India accounts for roughly 30 per cent of the total population and is dependent on rental accommodation.
Ron Somers, president of the US-India Business Council, said that the reason the USIBC is so keen to deepen linkages with India across the education sector is 'because our knowledge partnership with India depends on it.'
If the US were to look from the east coast across the Atlantic for a country with which it could collaborate, then India would be that country for reasons more than one, Minister for HRD and Communications and IT Kapil Sibal.
'In today's economically integrated world, economic relationships constitute the bedrock on which social, cultural and political relationships are built,' the minister tells the US-India Business Council in Washington, DC.
"India has been a fantastic market" for the $40 billion PepsiCo, Indra K Nooyi, chairman and CEO said, and this is the feedback she has received from other CEOs of American companies doing business in India.
"We are very clear it is an absolute must in the bouquet of energy resources which have to be accessed," Commerce and Industry Minister Anand Sharma told a gathering of top US c corporate leaders and those from the US government at the annual summit of the US India Business Council (USIBC).
The US India Business Council said India's 2010-11 Budget defined important steps aimed at fuelling growth and signaled that the global recession of 2008-2009 is already a remnant of the past for it.
James Laurence Balsillie, founder and co-chief executive officer of Research in Motion, feels that in the next 20 years, India will reach the developed nation status with $20,000 per capita income in terms of purchasing power parity.
Kaye, the Warburg Pincus co-president, will succeed Rajat Gupta, McKinsey & Company's senior partner worldwide.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
Sachin Pilot, Minister of State for Telecommunications and Information Technology, has predicted that, thanks to the mobile technology boom, telephone calls and related charges in India would soon be free. Pilot said that in such a scenario, telecom companies would have to think of novel ways to make money, with services such as data transfer to survive and stay competitive.
Ron Somers, president of the US-India Business Council, has said that the top priority on his organisation's wish list for the Obama Administration is that "we are intent on seeing a bilateral investment treaty executed between our countries."
The US-India Business Council on Monday termed growing ties between Washington and New Delhi as a 'catalyst' for continued economic growth, even as a former US envoy wanted the two countries to go beyond rhetoric.
Indra Nooyi, the outgoing chairman of the US-India Business Council, said that the two of the major achievements during her tenure were the signing of the US-India civilian nuclear deal - where the USIBC played a catalytic role in garnering support on Capitol Hill - and the univocal support extended by the members following the 26/11 Mumbai terror attacks.
For India to view the new Sri Lankan leadership only through the prism of the past or through their narrow view on China, is fraught with possibilities that should be avoided, asserts N Sathiya Moorthy.
Modi assured US investors that in the next six months, he would implement all the things necessary for ease of business in the country.
Such a partnership between the two countries, after the civilian nuclear deal, is essential to jointly meet the challenges of climate change, prime minister's special envoy on climate change Shyam Saran told a meeting of US corporate leaders organised by the US India Business Council. USIBC had played a significant role in the passage of the Indo-US civilian nuclear deal, despite tough hurdles.
Despite the devastating terror attack on Mumbai, the US-India Business Council has decided to take its largest ever trade delegation of American commercial nuclear executives to India in January next year.
Stating that New Delhi has credible evidence that a portion of US aid to Pakistan is being used against India, the Congress party has asked the Obama Administration to have an effective monitoring mechanism of its civilian and military assistance to Islamabad.
India will be among the top five aviation markets in the world - both in terms of size and scale in the next five years, Civil Aviation Minister Praful Patel said.
Saturday's Quad meeting in Delaware is taking place against the backdrop of China's assertive behaviour in the South China Sea, its sabre-rattling in the Taiwan Strait and increasing footprints in the Pacific and Indian Ocean, asserts Rup Narayan Das.
"The rest of the world should pass a motion of thanks to India for keeping its emission at a level which actually is below the level required to achieve climate sustainability," says Montek Singh Ahluwalia, a key member of Prime Minister Manmohan Singh's economic team.
It would essentially showcase American excellence in technology superiority, reliability, and long-term partnership at the prestigious show, which would be organised between February 4 and February 11, 2007.
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