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The Dollar Business Bureau  John Chambers, the Executive Chairman of Cisco Systems Inc was in India during the creation of the US-India Strategic Partnership Forum (USISPF). An ardent admirer of India, its culture and its government’s strategy and vision, John Chambers is confident that India will figure among the top three economic powers in the next 10 to 15 years. He believes that the country’s strength lies in the democracy and the partnerships it has with other countries.  Chambers who is now the Chairman of USISPF declared that, ‘if he were to bet on one nation for future outside the US, it would be India.’ He predicted that India would turn out to be a role model for the world economies.  "You will ...

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 ...

The Dollar Business Bureau  The Indian Prime Minister who visited the US and met the American President Donald Trump on June 26, also had a closed-door meeting with 20 top US CEOs the very same day. Many CEOs, according to Mukesh Aghi, President of US India Business Council (USIBC) who spoke to the Indian media, reiterated their ‘commitment to investing in India a very large amount.’ ‘Almost half a dozen of them made a very large dollar commitment,’ Aghi said, refusing to divulge the details of the amount and the names. The meeting which lasted for 90 minutes, ended on a positive, win-win note he said.  The PM had responded favourably to all the questions that the CEOs raised, which revolved around defence, ...

The Dollar Business Bureau US Commerce Secretary Wilbur Ross, who recently met Indian Finance Minister Arun Jaitley, signaled that an India-US Free Trade Agreement (FTA) is not out of the question, even though no such negotiations have commenced. “I don't believe that there have been any serious discussions with India of late on the topic of a free trade agreement. But there's no inherent negative attitude on our part on that,” Ross said in a press conference, about the view of President Donald Trump administration on the idea of an India-US FTA. Currently, the US-India bilateral trade is governed by the mandate of WTO. No exclusive trade pact exists between the Western superpower and the Asian giant.  The 20 countries having FTA with the US are Australia, Israel, Bahrain, Jordan, Canada, Nicaragua, Chile, Moroccan,Colombia, Costa ...

The Dollar Business Bureau The US-India Business Council led delegation participating at the Aero India 2017, pledged to support the Make In India campaign of the Indian PM. This could be a show of solidarity and the furthering of US-India defence ties. The ongoing Aero India 2017 show at Bengaluru, is playing host to more than 20 senior executives from American aerospace and defence companies. USIBC is led by George Standridge, VP for Strategy and Business Development for Lockheed Martin and Tom Bell, Senior VP, Boeing. Some of the top defence executives representing companies like Honeywell, Harris Corporation, Textron Systems, Arconic, Raytheon and Telephonics are also a part of USIBC delegation, a statement released by USIBC said. India enjoys the exclusive tag of ...

The Dollar Business Bureau  Amidst fears of a stricter US Visa regime and an overhaul of the H1-B visa program, Indian IT bigwigs are to meet power-wielders in Washington DC later in February. The meet will underscore the ongoing 'economic partnership' being built between the two countries, alongside lobbying for a softer approach to alterations in the H1-B visa regime.  Trump's election promise of scrapping H1-B visa has shook India's largely export dependent IT sector, which gets 60% of its export business from USA. The special visa was incorporated for businesses in USA to hire foreign talent in the field of STEM (science, technology, engineering and mathematics). Since America faces a shortage of qualified people for such technical jobs, the program is mutually beneficial to both nations. The recent ...

PTI  "On August 29-31, Secretary Kerry will travel to New Delhi for meetings with senior Indian officials," the State Department spokesperson Elizabeth Trudeau said.  On August 30, Kerry and US Secretary of Commerce Penny Pritzker will co-chair the second US-India Strategic and Commercial Dialogue (S&CD), she said. Kerry and Pritzker will be joined by their respective Indian co-chairs, Minister of External Affairs Sushma Swaraj and Minister of State for Commerce and Industry Nirmala Sitharaman, along with members of the US delegation and their Indian counterparts.  "The S&CD is the signature mechanism for advancing the United States' and India's shared priorities of generating sustainable economic growth, creating jobs, improving the business and investment climate, enhancing livelihoods, and sustaining the rules-based global order," Trudeau added.  ...

Source: PTI With the US keen on accelerating the BIT negotiations process, India has shared with it the draft copy of the proposed bilateral investment treaty that awaits Cabinet approval. During the US-India Trade Policy Forum (TPF) meeting that concluded on Thursday, Indian officials told their American counterparts that they would be in a better position to talk on it once the draft of the model text for the bilateral investment treaty (BIT) is approved by the Cabinet. “In fact, they wanted us to have a detailed talk on it. The investment treaty is awaiting Cabinet clearance. Draft copies (of BIT) were exchanged,” Commerce Minister Nirmala Sitharaman told Indian reporters at the conclusion of ninth round of India-US TPF, which she co-chaired with the ...