Weekly news Economic Times
India can become America's
largest trading partner: USIBC
Obama had sought a level-playing field and an
atmosphere of genuine competition for American
companies doing business in India.
Business leaders from both countries have
expressed the need for partnership and fostering
deeper ties to ensure prosperity for business and
India is one of the fastest growing economies in
the world and President Obama's visit highlights
the export opportunities available for US
'UK's small Co’s keen on India
In the Midlands , home to Jaguar Land Rover (JLR) and the
heart of Britain’s manufacturing industry , small and medium
businesses are as likely to have trade links with India as big
The survey, commissioned by the Indian High Commission in
London, finds that while 4% of the companies currently export
products to India, around 8% actively import and 27% want to
increase their exposure.
Sectors with the maximum demand for imports from India are
for dressing and dying of fur, textiles, electrical machinery, motor
vehicles like trailers, and furniture. Raw materials, components,
and equipment are likely to form the bulk of imports.
On the export side, maximum exports are in other transport
equipment, rubber, plastic products and basic metals, with parts,
machinery, plastics and systems emerging as the main items.
According to the survey, about half of the respondents are
interested in selling technology to Indian firms, with the keenest
sectors being in medical, precision and optical instruments, post
and telecommunications, fabricated metal products and textiles.
Developing infra in India is US' top
Infrastructure development in India is its top business
priority and allayed concerns about protectionism in
the American economy.
India has emerged as an attractive global investment
destination, and infrastructure sector alone requires
investment of $514 billion for the 11th Five Year Plan.
America believes in partnership with India and to have
vibrant open market that encourage trade, direct
investment and brings the best product and services.
Level playing field has to be maintained to make sure
that everybody who has a product or service to offer
can have the opportunity to compete fairly, which
would benefit everyone.
'US will always stay open'
The US has the most open market in the world
and it will continue to be that.
US state Ohio had banned outsourcing of the
state IT contracts to foreign companies. This was
preceded by Washington’s decision to hike visa
fee for H-1B and L1 categories.
Infrastructure is an important area where it is
believed that US companies can contribute
Canada, India launch talks on free
Canada and India on Friday launched talks on a
free trade deal they said could boost gross
domestic product in each nation by C$6 billion
($5.9 billion) a year and increase existing trade
flows by 50 per cent.
The leaders of the two countries made the
announcement in a news release which said both
sides expect a timely conclusion of an ambitious