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The Dollar Business Bureau A US-based technology group Information Technology Industry Council (ITI) has prodded the Trump government to take steps in overcoming barriers in digital trade and alleged that various countries including China and India are biased in their policies which unfairly disadvantage US companies.  In addition, the technology group named countries like Canada, Indonesia, Russia, South Korea, Mexico and Vietnam, which have followed discriminatory policies against American companies.  “Multiple foreign governments have turned to discriminatory or otherwise harmful policies that unfairly disadvantage American companies and impede the ability of technology products and services to drive growth,” ITI said in a report to the President.  The countries in which rules that treat foreign and domestic companies differently are Colombia, China, India, Indonesia, Russia, South Korea and ...

The Dollar Business Bureau The US Department of Agriculture (USDA) had announced a non-country specific tariff rate quota (TRQ) for exporters of refined sugar from World Trade Organization (WTO) countries. Refined sugar of 1,82,000 metric tons raw value (MTRV) has been allocated for the US fiscal year of 2018, which begins on Oct 1, 2017 till September 30, 2018. Of the 182000 MTRV of sugar, 22000 MTRV of sugar (which also includes 1656 MTRV of specialty sugar) and an additional 160000, TRV for specialty sugars. Imports of organic and other specialty sugars are administered on a first-come-first serve basis in 5 tranches, as detailed below in the USTR report. On October 2, 2017, under the first tranche, 1656 MTRV of all types of specialty sugar ...

The Dollar Business Bureau India suffered a setback on Friday when the appellate body of World Trade Organisation (WTO) has upheld a panel’s rulings which said that India’s power purchase pacts with solar companies were ‘inconsistent’ with global norms. “The Appellate Body upheld each of the conclusions of the panel appealed by New Delhi,” the WTO said. In 2014, the United States (US) had filed a complaint against India before the world trade body claiming discrimination against the US companies. “The appellate body of WTO had issued a ruling in favour of the US administration’s claim against New Delhi’s ‘domestic content requirements (DCR)’ as per its National Solar Mission (NSM),” said Michael Froman, US Trade Representative (USTR). Since New Delhi had enacted the given ...

The Dollar Business Bureau Tamil Nadu has attracted huge investments worth more than $4 billion from US firms in various sectors including automobiles, textiles and pharmaceutical sectors. This was revealed by the Tamil Nadu Industries Minister M C Sampath during a conference hosted by the Indo-American Chamber of Commerce in Chennai on Tuesday. The minister said that the US and the state of Tamil Nadu share good trade relations. Around 250 US business firms have their presence in this state providing direct employment to over 1.75 lakh people and indirect employment to more than 2.50 lakh people. The state is one among the top three industrial states in India, contributing 11% of the total industrial production in the country. Stating further he said ...

Not just US companies, Indian companies are also voicing similar concerns, US Ambassador Richard Verma said Source: PTI In 2005, the two-way trade between the countries was about $35 billion, which exceeded to $105 billion last year   Problems related to ease of doing business such as taxation, regulatory burdens and legal issues can deter American investors from investing in India, US Ambassador Richard Verma said on Thursday even as he hoped that the $500 billion bilateral trade target would be achieved. On the trade and investment front, we have been taking up the ease of doing business factors that sometimes can deter the US companies and investors such as tax and legal certainty and easing regulatory burdens. I think we are making progress in ...

Source: PTI The India-US commercial relationship has a busy calender ahead in the next 12 months, which is aimed at encouraging greater ambition in expanding bilateral trade and addressing market access challenges facing US companies, a senior Obama administration official has said. “In the coming months, our commercial engagement will be focused on encouraging greater ambition in expanding US-India trade and address market access challenges facing US companies,” Arun M Kumar, Assistant Secretary of Commerce for Global Markets and Director General for the US and Foreign Commercial Service told a think-tank this week. In February next year Deputy Secretary of Commerce Bruce Andrews would lead a high powered Infrastructure Trade Mission to India. The two countries would also hold their meeting ...

Source: PTI   Australian dairy exporters have asked the government to push for a free trade agreement (FTA) with India in a bid to improve the access to the country's huge market. Australian agriculture service provider Cargill said that while current demand was growing at 7% a year, production was rising by just 4% and India was set to become a net importer by 2020, according to AAP news report. The local dairy exporters were now seeking the FTA with India in the face of stiff tariff barriers of between 30 and 60% on dairy products. Dairy Australia, the national services body for dairy farmers, said the FTA with India with concessions around dairy tariffs “would definitely be a start”. Dairy ...

The Dollar Business Bureau A trade mission from the United States will visit India in February next year to explore business avenues, especially in infrastructure, technology and services sector, a US administration official said. Bruce Andrews, Deputy Secretary of Commerce, said that he will lead a Smart Cities Infrastructure Business Development Mission to India from February 8-12, 2016, with stops in Mumbai, Chennai, and Delhi. Andrews was speaking at the US-India Infrastructure Roundtable held in Washington on Tuesday. The event was organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in collaboration with US International Trade Administration and 32 Advisors. The trade mission will help US companies launch or increase their business in India, focusing on technologies, systems and ...