Search Result for : Us Government

The Dollar Business Bureau Refuting the claims of any slowdown in the Indian IT sector, Law and IT Minister Ravi Shankar Prasad said on Tuesday that the sector will generate 25-30 lakhs jobs by 2025. “As (the) IT minister of the nation, I completely deny and refute that there is any downturn in the employment in this sector. It is robust, slated for great growth and once digital economy ushers then you can fathom its development,” said Prasad, while sharing the achievements of the Ministry of Electronics and IT in the past three years. The Minister said that the IT companies in India have created 6 lakh jobs in the past three years. “IT firms directly employ around 40 lakh people and about 1.3 crore indirectly. ...

The Dollar Business Bureau  The US government on Wednesday welcomed the move by IT major Infosys to employ 10,000 American workers in the coming two years, by stating that it was an outcome of the Trump administration’s “pro-growth economic agenda.” On Tuesday, Infosys had announced that it will set up 4 new centres in the US and hire 10,000 Americans in the coming two years as part of the company’s efforts to lessen the impact of the curbs on H1-B visa. Out of the four, the first innovation centre for newer technologies such as machine learning and artificial intelligence (AI) will be opened in August in the Midwestern US state of Indiana, also the home of Vice-President Mike Pence. The announcement by the IT giant is termed ...

The Dollar Business Bureau Credit rating agency, ICRA, said on Thursday that the decision of the US government to roll back the increase in anti-dumping duty (ADD) on the imports of shrimp from India will benefit the farmers in the country and lead to enhanced production. “...The impact of any hike/decline in duty/tax will be passed on back to the farmers by the processors, and not to the end consumer. Hence, while farmers bear the price-risk, they stand to benefit from the current reduction in duty levels. This could lead to increase in sowing and higher shrimp production in the near term,” the agency said in a report. The United States Department of Commerce (US DoC) in its 10th yearly review had hiked the weighted average ADD from 2.96 percent to ...

The Dollar Business Bureau India reduced its holdings of the US government securities to $118.8 billion in February this year, amid continuing economic uncertainties across the globe. This could be due to a slowing down in US GDP to 1.4% in the fourth quarter of 2015 from 2% in the third quarter. After hiking the exposure to these securities for the past few months, India has trimmed the exposure in the month of February, even as China purchased more such securities.   According to the recent data from the US Treasury Department, India's holding came down to $118.8 billion in February this year, compared to $119.8 billion in January.  Since November last year, India had been increasing its exposure to holding American government securities, which stood ...

"We are ready to manufacture F-16 in India and support the Make in India initiative," Phil Shaw, chief executive of Lockheed Martin India Private Ltd told reporters at the Singapore Airshow 2016. Source: PTI The making of F-16, which will be among the largest projects under the Make in India initiative, will be conditional to the Indian government making contractual commitment to buy the fighter jets for its armed forces, said the source.   US fighter jet maker Lockheed Martin today said it is ready to manufacture F-16 aircraft in India and supports the ongoing talks between the two countries to set up the first manufacturing facility, which could be one of the largest projects under the 'Make in India' initiative. "We are ready ...