American firms are earning their profits in India too: Sitharaman
The Dollar Business Bureau Concerned over the Indian firms impacted by tightening visa norms by the US, Commerce and Industry Minister Nirmala Sitharaman said on Friday that the entire debate also has to be extended to include several American companies that are reaping profits on the Indian soil. “Let us also understand that not just Indian companies in the US, several big US companies are in India too. They are also here, they are earning their margins, they are earning their profits which go to the US economy,” she said. The comments from the Minister assume significance when Indian firms, specifically IT services providers, are getting worried over the protectionist measures undertaken by US, Australia and recently Singapore. “So, it is a situation where ...
India ranks 43 out of 45 nations in global innovation index
PTI India ranks abysmally at 43 out of 45 countries in a global innovation index, according to a report released by the US Chambers of Commerce which cited the country's "anaemic" Intellectual Property Rights (IPR) policy and patent act as challenges to innovation. In the 5th annual International IP Index 'The Roots of Innovation' by US Chamber of Commerce's Global Intellectual Property Center (GIPC), there is slight improvement in India s performance; it was ranked last or next-to-last in the previous four years. "In India, many of the same challenges to innovation remain," said David Hirschmann, President and CEO of GIPC. India has 8.4 score as against America's 32.6 which tops the list of 45 countries. The ...
