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India and United Kingdom entered into a letter of arrangement today to pursue collaborative Defence R&D Cooperation with UK’s Defence Science and Technology Laboratory (DSTL) and facilitate making best use of respective research and technology development capability through joint projects, collaborative research and industry and academia participation. The LOA was signed in London by Dr VK Saraswat, Scientific Adviser to [...]
While India waits for its revised Double Taxation Avoidance Agreement (DTAA) to come into effect—the Swiss will inform India, by October 7, as to whether the DTAA will have to be subjected to a national referendum—a new agreement signed on Wednesday by the Swiss and UK governments opens up another avenue for action. The Indo-Swiss DTAA, when it does come [...]
Bilateral trade between India and the United States during 2010-11 and 2011-12 (P) is as under:- In USD Million Sl.No. Exports/Imports 2009-2010 2010-11 1. Exports 19,535.49 25,672.85 2. Imports 16,973.68 18,529.96 3. Total trade 36,509.17 44,202.81 (Source: Department of Commerce-NIC) During the Second India – US Strategic Dialogue held in July 2011 with U.S. Secretary of State, Hillary Clinton, [...]
The protests by Anna Hazare come at a time when the world economy is also battling a credibility issue, with a global slowdown being conjectured for the current year. One thought that hits us is whether or not these protests will have any wider ramifications for our economy. The global slowdown has evoked a mixed response with arguments being on [...]
The train services in operation between India and Pakistan are i) Samjhauta Express (from Attari-India to Lahore-Pakistan via Wagah). This route is also opened for the movement of freight trains and ii) Thar Express (from Munabao-India to Zero Point Railway Station near Khokrapar –Pakistan). Freight train movement was disrupted from December 23, 2010 to December 29, 2010 as a result [...]
Nearly three years ago I had noted that the period 2003-08 was the best sequential five years of macroeconomic performance that India had ever achieved, according to the usual criteria of growth, inflation, external balance, fiscal deficit and aggregate investment (“The halcyon years, 2003-08”,Business Standard, October 9, 2008). By the spring of that year the international commodity price shock had [...]
There has been steady progress in India’s ties with countries of East Asia as well as in the India-ASEAN relationship through the years. India became a Sectoral Dialogue Partner of ASEAN in 1992. The relationship was upgraded within ten years in 2002 to the level of an Annual Summit Level Dialogue Partnership. Trade between India and ASEAN countries has now [...]
The estimated export of tea from India during March, 2011 has declined. This decline is reportedly due to political disturbances in Afghanistan, Egypt and a few other Middle East countries, payment problems associated with exports to Iran and non-tariff barriers regarding exports to Iraq. Government of India through Tea Board is taking various steps to boost the export of tea [...]
INDEPENDENCE DAY 2011 The Overseas Indian Citizenship (OCI) Scheme was formerly launched in January, 2006 by amending the Citizenship Act, 1955 to facilitate life long visa free travel to India and certain economic education educational and cultural benefits to Persons of Indian Origin (PIOs). As on on 30th June, 2011, a total number of 8,61,726 PIOs have been registered [...]
The foreign student population in the US is not only a brain asset for America but also a multi-billion dollar industry in terms of revenues generated by way of fees and other associated costs of education. But there are inherent dangers in this process that require a concerted effort on the part of parents and students of India and from [...]
India’s decision to route payments for oil imports from Iran through Turkey’s Halk Bankasi (Halkbank) ends seven months of an impasse between the two countries following the Reserve Bank of India’s decision (under US pressure) to terminate the Asian Clearing Union as a conduit for payment. Under the latest agreement, Indian refineries which import directly from Iran will make rupee [...]
~ The premier US export bank is committed to supporting Indian companies to make US the gateway to do business with the world ~ Over the last decade Indo-US relations have emerged as the key driver to the stability of South-East Asia. Giving strength to a positive diplomatic relationship is its business with bilateral trade between the two countries rising [...]
EVER since it was first coined, the term ‘Look East’ has acquired a certain prominence in India’s foreign policy concerns. It points to the area of dramatic growth to the east of us, the abode of the ‘Asian Tigers’ that have succeeded in transforming their own economies and have had a powerful impact globally. At a time when India was [...]
CII seminar explores business opportunities with China. Inviting the businessmen India & China needs a strategic alliance and together they can complement each other and work together to be global leaders, said Mr Penng Gang, Economic & Commercial Counselor, Chinese Embassy in India, while inviting the Indian entrepreneurs for doing business in China during the seminar organised by Confederation of Indian [...]
When the world’s two largest democracies hold an annual strategic dialogue and can only produce two anodyne agreements on air safety and cybersecurity, no one can say the relationship is prospering. There is a clear and obvious sense of drift in relations between India and the United States. The nuclear deal is floundering on differences over India’s nuclear liability law [...]
The United States continues to exercise pressure on the Indian government to dilute the Civil Nuclear Liability law which was adopted by parliament. This has become evident from the statement made by US Secretary of State, Hillary Clinton, in Delhi asking India to engage with the International Atomic Energy Agency to ensure that the nuclear liability law “fully conforms” with [...]
The bilateral Aviation Safety Agreement (BASA) between India and the U.S.A. has been signed by Dr. Nasim Zaidi, Secretary, Civil Aviation and Mr. J. Randolph Babbitt, Administrator, Federal Aviation Administration (FAA) here today. The signing coincides with the visit of US Secretary of State Ms. Hillary Clinton to India. The signing took place in the presence of Senior Officers from [...]
EEPC India with an objective of to achieve substantial rise in trade for engineering goods and services organized a seminar on doing Business with Canada. Speaking on the seminar Shri Arvind Mehta Joint Secretary Department of Commerce said, “Considering the fact, that China is having an extensive presence in Canada this event could be piggy backing on various other measures [...]
CII-INSEAD study on ranking countries on innovation released in Geneva Confederation of Indian Industry (CII) and INSEAD study on ranking countries on innovation, called “Global Innovation Index” (GII), were released in Geneva for the year 2011. The study is an annual effort to analyze different enablers for policy makers and other stakeholders like industry and institutions to evaluate their actions and impacts vis-a-vis [...]
A new study by the Confederation of Indian Industry, “Indian Roots, American Soil: A Look at Indian Companies in the U.S. Economy” released on 30th March,2011 in Washington, D.C., reported that India-based companies were responsible for saving thousands of jobs in the U.S. in recent years and have continued to hire locally wherever they have put down roots. The study [...]
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