The US is taking several measures, such as increasing the number of staffers, to further facilitate the issuance of business visas in India, a senior US government official said on Tuesday. "We have also made significant progress by issuing more H1B and L visas in 2022 than we did even in 2019 before the pandemic. "This is a significant improvement. We are in the process of raising our staff," Arun Venkataraman, US Assistant Secretary of Commerce for global markets, said.
India on Monday joined a US-led initiative to set up an Indo-Pacific Economic Framework to bind partner countries to achieve common goals, with Prime Minister Narendra Modi asserting that New Delhi will work with the stakeholders to make it an "inclusive and flexible" structure to pave the way for development, peace and prosperity in the region.
"NSO is a private company, it is not a governmental project and therefore even if it is designated, it has nothing to do with the policies of the Israeli government," Israel's Foreign Minister, Yair Lapid, said at a joint press conference with Prime Minister Naftali Bennett and Finance Minister Avigdor Lieberman at the Prime Minister's Office on Saturday evening.
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.
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
However, the countries did not take up the issue of proposed withdrawal of export incentives by the US to Indian exporters under Generalized System of Preference.
ICT products make up a minuscule $ 407 million, out of the $ 35.54 billion of total inbound shipments from the US, as of now.
The United States, the United Kingdom, the European Union and NATO have expressed concern on the new law and warned of retaliatory measures.
The commerce department has said that earnings through the new tax will equal the losses faced by Indian industry after the US tariffs on steel and aluminium.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
India has raised tariffs on 28 items, including almond, pulses and walnut, exported from the US in retaliation to America's withdrawal of preferential access for Indian products.
US do not commit, but says outsourcing should create more jobs in both countries.
US Commerce Secretary, John Bryson said his country needs to build on the momentum in manufacturing sector.
India's growth, he said, remains resilient with low inflation, fiscal prudence and low current account deficit, talking about robust structural reform measures.
Indian industry, particularly the IT sector has been concerned over increasing resistance to outsourcing in the developed world.
The commerce ministry has sought a review of foreign direct investment policy in the pharmaceutical sector, in the light of recent takeovers of domestic companies by multinationals.
Business baron Anil Ambani had a meeting with US Commerce Secretary Gary Locke on Thursday, during which they discussed the new momentum in economic relationship of the two countries following the November visit of President Barack Obama to India.
We welcome all companies from India to come and invest and do business there. We have almost no restrictions in any sector at all. However, we expect similar reciprocity in India for our apples, pistachios, helicopters, and disaster relief materials, besides other products. We do not restrict such items from entering the US markets.
The trade mission will highlight export opportunities for US businesses in a broad range of advanced industrial sectors.
US Commerce Secretary Gary Locke's robust meetings in Mumbai, includes a bilateral with the Governor of the RBIndia Dr D Subbarao and senior officials at the Department of Atomic Energy and the Nuclear Power Corporation of India, in addition to speeches to the Federation of the Indian Chambers of Commerce and Industry and the National Association of Software and Service Companies, will also be punctuated with an interaction with the dabbawallahs or tiffin caterers.
The trade mission, comprising 24 companies from 13 states, is the first visit by an American Cabinet Secretary to India since US President Barack Obama came calling in November, 2010.
On the eve of US Commerce Secretary Gary Locke's trip to India next week as the head of a high-tech trade mission of 23 American companies, including Fortune 500 heavyweights and also several small and medium enterprises, the Department of Commerce has moved expeditiously to implement the export control initiatives to facilitate high tech trade with India.
A trade agreement between the two nations would have to factor in US' concerns about IPRs and India's anxiety about market access.
The Barack Obama administration has launched a concerted and aggressive campaign on behalf of United States's fighter aircraft manufacturers to push for the 'mother of all deals'-- the $11 billion medium multi-role combat aircraft deal for 126 fighter aircraft for the Indian Air Force. The deal could give the ailing US economy a major boost in terms of both exports and thousands of jobs.
US Commerce Secretary Gary Locke, who is on a six-day visit to India for furthering the work outlined by US President Barack Obama in November last year.
The issue, which has an impact on the Indian IT industry, came up for discussion between visiting US Commerce Secretary Gary Locke and Commerce and Industry Minister Anand Sharma in New Delhi.
US also said it saw abundant opportunities in India in areas of medical technology, power, financial services, hi-technology and clean energy.
The big-ticket announcement during US President Barack Obama's visit to India starting November 6 will be about lifting controls on the export of high-technology items to India. "We are looking forward to a significant announcement on export controls," said US Commerce Secretary Gary Locke in an exclusive interview to Business Standard.
The Obama administration, responding to India's angst over the sharp hike in H-1B and L1 visa fees as discriminatory and anti-trade in services, has argued that India is equally discriminatory.
The US would offer technological help to world's biggest polluter China to enable it achieve its target of emission reduction, a top official said on Thursday, acknowledging that China, India and Brazil have made significant commitments at Copenhagen.
Locke says the US is seeking a level-playing field.
China's growing dominance in global trade is definitely a matter of concern for both the US and India.
Former US commerce secretary William Daley, a strong advocate of enhanced Indo-US ties, has been chosen by President Barack Obama as his new Chief of Staff.
India's aviation sector would have a fully functioning satellite based navigation system (GPS) in place next year, Aviation Minister Praful Patel said.
Commerce and Industry Minister Anand Sharma and the US Trade Representative Ron Kirk would sign the India-US Trade Policy Forum Framework for cooperation on trade and investment in Washington on March 17.
The study has been conducted by Ernst & Young on behalf of EEPC-India, the apex body of engineering goods exporters.
In a major policy reversal the US Commerce Department has officially announced that the US Census Bureau would report married same-sex couples in the 2010 census.
US Commerce Secretary Carlos Gutierrez has said that with the signing of the historic and landmark US-India civilian nuclear deal it is now imperative that India move quickly to enact nuclear liability protection to envisage the private sector of both countries to engage in business.
"We have put in place an innovative mechanism, Validated End User Programme, or VEU. Through this programme, American companies will find it easier to export certain US products to customers that meet the security standards of a US government inter-agency review," US Commerce Secretary Carlos Gutierrez has said.
With a view to enhancing commercial and strategic relationship between India and the United States, the High Technology Cooperation Group will meet in Washington next week.
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