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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 ...

The Dollar Business Bureau The US President urged the Indian Prime Minister to relax the trade barriers in order to reduce their trade deficit. Speaking to the media at the historic Rose Gardens in the White House both the leaders appeared to be at ease with one another and read out statements that portrayed the importance of a  strong US-India relationship. Watched by the world media, both the leaders stressed the strong commitment being made towards bilateral relations.  Prime Minister Modi said, “I deeply appreciate your strong commitment to the enhancement of our bilateral relations. I am sure that under your leadership a mutually beneficial strategic partnership will gain new strength, new positivity, and will reach new heights."  President Trump during his address made it ...

PTI The US has approved $75 million high-tech chemical protective clothing for the Indian armed forces that will protect soldiers against biological and chemical warfare. The Joint Service Lightweight Integrated Suit Technology (JSLIST) consists of 38,034 each: suits, pairs of trousers, pairs of gloves, pairs of boots and NBC bags; 854 aprons; 854 alternative aprons; 9,509 Quick Doff Hoods; and 114,102 M61 filters. The entire package also includes 38,034 M50 general purpose masks. The Defence Security Cooperation Agency (DSCA) made a notification to the Congress on May 10 after the State Department made a determination in this regard. India had made a request for these special clothing as part of its military modernization programme. In its notification to the Congress, the DSCA ...

PTI A bipartisan group of four US lawmakers, including Indian-American Ro Khanna, today introduced a legislation in the Congress to reform the current H-1B and L1 work visas and end its abuse by foreign companies. The H-1B and L-1 Visa Reform Act of 2017 introduced by Congressmen Bill Pascrell, Dave Brat, Khanna and Paul Gosar is in addition to the nearly half a dozen similar legislations pending in the US Congress either the House of Representatives or the Senate all of whom seek to close loopholes in the H-1B and L visa programmes to reduce fraud and abuse, provide protections for American workers and visa holders. Interestingly the latest move from four Congressmen come a day after a NASSCOM delegation concluded ...

The Dollar Business Bureau The Defend Trade Secrets Act of 2016 (DTSA) that was passed by the US Congress last month is expected to be signed by President Obama very soon. This act has come mostly because of the congressional concerns over the global economic espionage. According to legal experts, the weak protection of trade secrets within the purview of the World Trade Organization (WTO) is the main reason for the congressional demand for action on this law. Also there is no organisation, international law or treaty to protect the trade secrets. Scott McDonald and Jackie Johnson, attorneys at a law firm Littler Mendelson informed that the US has partly gained support from international jurisdictions in preserving trade secrets. This is mainly because ...

Matt Salmon, Chairman of the House Subcommittee on Asia and the Pacific said, Membership in APEC (Asia Pacific Economic Cooperation) would provide India a constructive forum to glean insight from other Asian countries that have already taken significant steps to advance their economies." The Dollar Business Bureau Asia Pacific Economic Cooperation (APEC), is a forum of 21 economies set up with a view to promote free trade throughout the Asia- Pacific region   To help India join the APEC forum, the US legislators sympathetic to India have initiated a legislation in the US congress. The thought behind this was an economically progressive India would benefit the strategic goal of US in Asia. Matt Salmon, Chairman of the House Subcommittee on Asia and the Pacific ...

Source: PTI    Marking a “historic” change at IMF, India, China and other emerging economies will now have more voting rights at the multilateral funding agency with the implementation of long pending quota reforms. For the first time, the four emerging economies – India China, Brazil and Russia – would be among the 10 largest members of the International Monetary Fund. Besides, more than 6% of quota shares would shift to dynamic emerging markets and developing countries. It would also mark the shift in shares from over-represented to under-represented IMF members. The much-awaited quota reforms, pending for many years, were approved by the US Congress in 2015. The 2010 Quota and Governance reforms were approved by the IMF's Board of Governors in ...