US Committee says Indian policies are discriminating against US exports and investments
The Dollar Business Bureau The influential House Appropriations Committee in its report accompanying the annual Appropriations Bill 2018, said that several policies adopted by the Indian government to boost its economic growth, protect domestic manufacturing, actually discriminated against US exports and investments. 'India, while striving to improve its economic growth, has been enacting a series of policies to increase domestic manufacturing and protect domestic industries and agricultural production that discriminate against US exports and investment,' the Committee said. The report was prepared in conjunction with the US Commerce, Justice, Science and Related Agencies Appropriations Subcommittee that has several agencies under its control that combat gangs, drug trafficking, violent crime, terrorism espionage, financial fraud; enforcing trade laws; exploring science, space; managing fisheries etc. The Appropriations ...
Chinese envoy proposes action plan to resolve Sino-India differences
The Dollar Business Bureau Extending an olive branch to India, Chinese envoy Luo Zhaohui proposed a four-pronged plan to resolve disputes, and further a friendly Sino-Indian bilateral cooperation. “Firstly, start negotiation on a China-India Treaty of Good Neighbourliness and Friendly Cooperation. Secondly, restart negotiation of China-India Free Trade Agreement. Thirdly, strive for an early harvest on the border issue. Fourthly, actively explore the feasibility of aligning China’s ‘One Belt One Road Initiative, and India's 'Act East Policy',” Luo said, in his address to the United Service Institution on May 5, 2017. While many sensitive issues, including China’s opposition to India’s Nuclear Suppliers Group (NSG) membership, have put daylight between the two nations, this move showcases China’s willingness to meet India half-way through. Speaking ...
China commends India's GDP growth
Source: PTI The relationship between China and India is advancing rapidly. “We have similar positions on major international issues because we are major developing countries. And we both put economic development at the centre of our national development agenda,” remarked a senior Chinese leader. Concurring to the development, dates are not finalized yet, but Indian President Pranab Mukherjee will visit China next month. There are ongoing irritants over issues like Beijing blocking India’s bid to get a UN ban on JeM head Masood Azhar, however, Mukherjee plans to tighten Sino-India trade engagement and relationship. The President will be in Beijing, and very likely to visit Guangzhou, one of the largest industrial cities in China, where India has established stronger trade links—a reciprocal visit after ...
Free trade agreement with China will not benefit India
The Dollar Business Bureau Time is not yet ripe for India to go ahead and sign a Free Trade Agreement (FTA) with China, says the Associated Chambers of Commerce of India (ASSOCHAM). This was stated by the ASSOCHAM in its paper on ‘Should India sign a Free Trade Agreement with China?’, released on Monday. In its study, the ASSOCHAM further suggested that such FTA may not fit at this point of time, even though such an arrangement is a key issue of economic cooperation in order to face Chinese competitiveness in the international markets. The Sino-India economic cooperation is huge and important, but, at this juncture, it would bring gains in favour of China and will further reinforce the existing ...
Why an India-China FTA makes negative sense!
Steven Philip Warner | @TheDollarBiz While India has largely remained an exporter of traditional raw materials, China has moved up the value chain in exports. An FTA between the two nations will only benefit China (much) more. (L - Inside the biggest CCTV, surveillance camera company, in China, April, 2010 in Shenzhen; R- Textile workers in a small factory in Old Delhi, February, 2008 in Delhi, India) It’s surprising how many stakeholders and policymakers in India are proclaiming an India-China Free Trade Agreement to be a matter of “macroeconomic exigency”. Given China’s dominance in the world of foreign trade in recent years, especially exports, this seems a measured idea from a distance. But closer observation proves that this elixir of ...
