Search Result for : India Trade 2

The Dollar Business Bureau  The US Ministry of Commerce has said it is likely to launch anti-dumping and countervailing duty probe of steel flanges being dumped by India and China into its markets.  The Commerce ministry has been petitioned by the Coalition of American Flange Producers and members in its group like Core Pipe Products Inc of Illinois and Maas Flange Corporation of Texas, to consider their petitions filed on August 16 and begin the investigation.  The domestic producers allege that the estimated dumping margins ranged between 99.23% to 257.11% for China and 78.49% to 145.25% for Indian steel products and also estimated that products from both the sides were subsidized at undetermined rates. Reiterating his government’s support to defend American businesses and ...

By Ranjeet Mahtani, Suhasini Joshi & Darshan Bora Globally, export control regimes are designed to control the export of dual-use goods and technologies which can be used in both - civilian as well as military applications. Among other things, export control regulations involve subjecting exports of specified items to prior authorization / licensing. The objective is to prevent illegitimate trade in such dual-use items and control the export of products to countries that are considered as a national threat. Recent overhaul of Indian SCOMET list The Indian Export Control regulations have been significantly overhauled by the Directorate General of Foreign Trade (DGFT) with effect from May 1, 2017. The amendments seek to revise the Special Chemical, Organisms, Materials, Equipment and Technologies category (SCOMET) ...

The Dollar Business Bureau It will become harder for Indians to get H-1B visa as the United States President Donald Trump will sign on Tuesday an executive order to direct the federal agencies asking them to recommend changes in the temporary visa programme that is used to hire foreign employees to the US for filling the high-skilled jobs. Two senior officials in the US government briefed the reporters at the White House and said, “President Trump will use the “buy American and hire American” order to seek changes in government procurement practices to increase the purchase of American products in federal contracts.” The US President is to sign the executive order on his visit to the international headquarter of Snap-On Inc, a manufacturer of tools in Kenosha, ...

The Dollar Business Bureau World Bank, in its new edition of 'South Asia Economic Focus', marks South Asia as the fastest growing region in the world. Growth in the region, pegged at 6.7% for 2016-17, was stronger than that in East Asia, which stood at 6.3%. The global annual growth of 2.3% is also dwarfed by South Asia's stellar performance. Bhutan, Bangladesh and India were labelled as the high performers carrying off the entire region into glory.   But just like the rest of the world, growth in trade and investment was disappointing even in the fastest growing region. This trend may soon witness a turnaround as countries like India and Sri Lanka rebound on export growth. In India, the month of March 2017 boasted a six-year ...

The Dollar Business Bureau The government has announced it will soon set up mini drug-testing laboratories at ports and airports to check quality and authenticity of imported drugs. The Health and Family Welfare Ministry has given nod to setting up mini-labs at ports and airports to monitor drugs that are imported into the country. Minister of State for Civil Aviation Jayant Sinha said in a written reply to the Lok Sabha that the decision has been taken to prevent illegal and substandard drug and strengthen the country’s drug regulatory structures. "Necessary sanction has been issued by the Ministry of Health and Family Welfare to set up these labs," Sinha said. He was responding to a question on whether the government would set up six small ...

The Dollar Business Bureau With Britain formally leaving the 27-nation trading bloc of European Union (EU), India and UK may look for a possibility of a free trade agreement (FTA). The FTA’s possibility came up during talks between Arun Jaitley, India’s Finance Minister and Philip Hammond, UK Chancellor of the Exchequer at the 9th UK-India Economic and Financial Dialogue wherein the UK pitched for enhanced trade ties with India. India said that a formal discussion on the possibility of a bilateral trade pact can only start after concluding of the Brexit, which is likely to take around two years. Last month, the UK Parliament cleared the Brexit Bill, which paved the way for Britain exiting the EU. Jaitley said India has stated in its communication ...

PTI Projects worth USD five billion are expected to be discussed during the India visit of Malaysian Prime Minister Najib Razak, which started on March 30, as the two sides look at inking more than a dozen business deals. Prime Minister Narendra Modi and Najib will hold wide- ranging talks on April 1, during which the two sides will also try to take forward their cooperation in key areas of security, defence and counter-terrorism. Briefing reporters on the six-day visit, Jaideep Mazumdar, Joint Secretary (South) in the External Affairs Ministry, said, "Projects under discussion during the visit would amount to around USD five billion," and about 15 business agreements are also expected to be signed during a business event on April ...

PTI Indian-American Congressman Ro Khanna has said the US needs to "remain open" to immigrants who contribute to creating jobs and help shape the economy, as he called for "common sense" reforms in the H1B visa system. Khanna, who represents the Silicon Valley where a large number of Indians and other immigrants work, said many Americans believe the H1B visa programme needs to be reformed. "Of course, we have to end the abuses. We shouldn't have companies that have more than 50% H-1B visas and we should make sure that they are paid the prevailing wage," Khanna, a first-time Congressman, told PTI in an interview. "These are common sense reforms that even people like Venk Shukla (TiE Silicon ...