India, US agree to resolve 100 cases under MAP
The Dollar Business Bureau India and the USA in October held the Bilateral Competent Authority Mutual Agreement Procedure (MAP) / Advance Pricing Agreement (APA) meeting to resolve MAP cases pending for a long time and to achieve significant developments in Bilateral APA Process, Indian Ministry of Finance announced on Thursday. During the meeting, the two sides agreed to resolve 66 MAP cases pertaining to transfer pricing issues and 42 MAP cases pertaining to treaty interpretation issues. The total amount in dispute was about Rs. 5,000 crore, all reported during the assessment years 1999-2000 to 2011-12. The resolved cases focused on several issues such as transfer pricing adjustments made to the international transactions in terms of payment of royalty, payment of management fees, cost ...
India not ambitious enough to conclude BIT: Adeyemo
The Dollar Business Bureau Holding India responsible for not being ambitious enough to complete the Bilateral Investment Treaty, the US stated that it is open to continue dialogue as it is of great significance for both the nations. The USA has number of issues regarding trade with India, said Adewale (Wally) Adeyemo, Deputy Assistant to the US President and Deputy National Security Advisor for International Economics. While addressing a session on India-US Economic Relations, Adeyemo further stated that India is not as determined as required to conclude BIT. The US is waiting to be involved in growth of India, which is amongst the fastest growing economy in G20. In July, Richard R Verma, US Ambassador to India said that both the countries are aiming at a ...
India-US chamber aims $500-bn trade in few years
The Dollar Business Bureau Indo-American Chamber of Commerce (IACC) aims to increase the trade between India and the US to reach $500 billion in the coming few years. To achieve such a winning leap growth in trade, concerted efforts are required with new solutions and structures to drive the trading mechanism, IACC said in its National Conclave 2016 in Hyderabad on Friday. During the event, Home Minister Rajnath Singh said, “India and US are natural allies and could transform the world with trade and trust. Our Prime Minister Narendra Modi and the US President Barack Obama have added a new and successful chapter in Indo-US bilateral relations. The US-India trade value was $90 billion during 2009-10. It rose to $100 billion in ...
'Improve ease of doing business for more US investments'
If domestic barrier are thrown out, the US and India can achieve their bilateral trade target of $500 billion by 2025. Deepak Kumar | The Dollar Business As barriers to market entry come down, India will see a number of American companies and investors, says US envoy India must reduce trade barriers and improve ease of doing business to compete with other countries, US Ambassador to India Richard Verma said on Thursday, adding that an invitation is not enough to attract American investors. Speaking at an interactive session organsied by the Federation of Indian Export Organisations (FIEO) in New Delhi, the US Ambassador said, The (FDI) numbers are getting better but they are not what they should be. He, however, expressed confidence that ...
India, US for high-level bilateral investment treaty
The Dollar Business Bureau India and the United States are likely to enter into a high-level Bilateral Investment Treaty (BIT) aimed at creating ‘ease of doing business’ environment in India. This was informed by Richard Verma, US Ambassador to India, in his address at the annual general meeting of the American Chamber of Commerce (ACHAM). “We are working on a high-level BIT to make sure that any such treaty is of very high quality,” said the US Ambassador in his address. Both sides are working very hard towards the assessment of the high-level BIT in boosting the investors’ confidence, he added. And, the newly reconstituted strategic and the commercial dialogue is expected to be held in Washington soon, he informed. ...
