United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
India's disappointment over recent 'protectionist' measures by the United States, including increase in visa fee for IT professionals and Ohio's ban on government outsourcing, will be raised at the high level ministerial meeting in Washington on Tuesday.
India will be represented by Union Divestment Minister Arun Shourie in the informal World Trade Organisation ministerial meeting convened by US Trade Representative Robert Zoellick
A federal body began a hearing on the impact of Indian trade policies on US businesses wherein American bodies and advocacy groups slammed India for its trade practices, alleging they hit their jobs and business.
Canada now has seven trade offices in India, making Canada's network of trade offices in India its largest outside the United States.
A day ahead of the G20 Summit, it was not very clear whether a consensus on the text to describe the Ukraine crisis in the joint leaders' declaration was achieved with China appearing to emerge as the main stumbling block to bridge the differences on the contentious issue.
In the UK, he will attend the Commonwealth Heads of Government Meeting
Notwithstanding the fact that the country's pharmaceutical (pharma) pricing regulator has allowed a 12 per cent price increase for medicines listed under the National List of Essential Medicines (NLEM) in 2023, analysts and industry insiders predict that the overall domestic pharma industry will only witness a price hike of 5-6 per cent. This is attributed to higher competitive intensity in the market. Krishnakumar V, executive director and chief operating officer (CEO) of Eris Lifesciences, a domestic-focused pharma company, noted that the NLEM segment experienced growth suppression of around 150 basis points due to price reductions during the January to July period this year.
There have been several occasions when workers have raised an industrial dispute with employers demanding compensation for being retrenched due to continued illness
Chinese Foreign Minister Qin Gang will travel to India to attend the meeting of G20 foreign ministers on March 2, during which he is expected to hold his first bilateral meeting with External Affairs Minister S Jaishankar.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
China has promised to "vigorously" expand imports of key products from around the world to balance its export driven trade, but analysts dismissed it as a mere lip service than a firm commitment.
The national carrier currently has 15 recognised trade unions.
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.
India and Iran plan to reach USD 25 billion in annual bilateral trade in the next four years, Indian commerce ministry has said.
The joint venture of Jio Financial Services and BlackRock to foray into India's asset management space could be disruptive but not disastrous for incumbent industry players, analysts said on Thursday. As an investment strategy, analysts suggest investors stay put in shares of those AMCs that consistently improve business metrics, and where market capitalisation-to-asset under management (AUM) valuation is not stretched. However, growth expectations of incumbent players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans, discounting the looming challenge as significant enough to dent their profitability.
The US hails the landmark 'India-Middle East-Europe Economic Corridor' which will usher in a new era of connectivity from Europe to Asia and will stimulate economic growth across the two continents.
It also sought permanent exemption from the requirements that wine and distilled spirits labels include an ingredients list and disclose the date the product was manufactured.
Through these actions at the WTO, the United States is seeking the prompt provision of detailed information and data from China and India regarding the operation of these subsidy programmes, the USTR said.
In an effort to attract investors to the Social Stock Exchange (SSE), the bourses have reached out to the Securities and Exchange Board of India (Sebi) and the government with the industry's demand for additional benefits on contributions made towards social enterprises through the platform. SSE is a regulated platform to facilitate organisations working towards social causes to raise funds and have access to higher capital through the bourses. The platform is aimed at becoming a meeting ground for donors and social enterprises.
Trump said India and China - the two economic giants from Asia - are no longer developing nations and as such they cannot take benefit from the WTO.
Since the Doha negotiations began in 2001, the world has changed dramatically, Deputy US Trade Representative Michael Punke stated before the US Senate Finance Committee.
There is a growing sentiment in the world and the global South in a way embodies it. But there's also political resistance, he said.
New Delhi and Washington have agreed to count the benefits of a global agreement on taxation from the next financial year. However, the benefits would actually accrue once the global pact comes into effect or March 31, 2024, whichever is earlier, in the form of credit.
Modi is visiting the African country from August 22 to 24 at the invitation of South African President Cyril Ramaphosa. South Africa is hosting the first in-person summit of BRICS comprising Brazil, Russia, India, China, and South Africa, since 2019.
India may be represented by Commerce Minister Arun Jaitley at an informal conclave of key trade ministers convened by the United States Trade Representative Robert Zoellick in London this week to break the impasse in the WTO talks.
The following is the full text of US President Donald Trump's first address to a joint session of the Congress on February 28, as prepared for delivery and released by the White House press office.
Top Pakistani diplomats have supported trade with India through rail and road networks besides backing the petroleum and gas pipeline links and said the country could achieve most of its economic objectives through it.
China's state-run trade union, which came under fire for not taking up workers' rights issue when they went on flash strikes demanding higher wages last year, has floated the idea of introducing collective bargaining to address labour disputes.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
The United States is committed to move the multilateral trade talks forward this year but India, China and Brazil need to contribute to a positive outcome of the World Trade Organisation negotiations, US Trade Representative Susan Schwab has said.
'... are losing faith in the institutions of government, where people do not believe that the institutions of government operate according to the Constitution, within the confines of the law, where these institutions are seen to be representing a small faction of a particular community against all other (minority) communities.'
Still the Reserve Bank of India will operate as usual and can provide funds via its overnight repo window, traders also said.
With OTDS being central issue in the Doha agriculture negotiations, trade negotiators said the latest move by the US was too little compared to its last year spending level of about $7 billion. US trade representative Ambassador Susan Schwab told reporters that its offer to bring the OTDS to $15 billion is contingent up on other advanced countries responding to ambitious market access offer in non-agricultural products and services.
Sharma met US trade representative Ron Kirk, agriculture secretary Tom Vilsack and deputy assistant to the president and deputy national security advisor for International Economic Affairs Michael Froman and other senior Obama Administration officials.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
The RBI raked in a massive net income gain from foreign exchange currency sales as a buffer for the rupee during tumultuous geopolitical upheavals last year owing to Russia's invasion of Ukraine.
United States President Joe Biden is all set to visit India and is 'very excited' about the important initiatives he will be championing at the G20 Summit in New Delhi, according to senior White House officials.
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