I hope that's the case because without foreign companies atmanirbhar Bharat is just jumla like swachh bharat...
India-US Relations
- Thread starter Butter Chicken
- Start date
Forgot about tankers. There is an interest in buying or leasing pre-owned tankers, and the US is the biggest source.
India Post and United States Postal Service (USPS) signs Agreement for Electronic Exchange of Customs Datarelated to postal shipments exchanged between the two countries
Department of Posts, Government of India (India Post) and United States Postal Service (USPS) have entered into an agreement for Electronic Exchange of Customs data related to postal shipments exchanged between the two countries. The agreement will make it possible to transmit and receive electronic data of international postal items prior to their physical arrival at the destination and would enable customs clearance of postal items in advance in line with the evolving global postal framework. This will also improve the performance of postal services in terms of reliability, visibility and security.
Photo Source: PTI
USA is the top export destination for India (~17%) which is also reflected in exchange of goods through postal channel. In 2019, around 20% of outbound EMS and 30% of Letters & Small Packets transmitted by India Post were destined to USA whereas 60% of the Parcels received by India Post were originated from USA. Exchange of Electronic Advance Data (EAD) as per the Agreement will be a key driver towards promoting mutual trade with emphasis on the exports from different parts of India to USA through postal channel considering that USA is a major destination of MSME products, Gems &Jewelry, Pharmaceuticals and other local products from India. This will fulfill a major demand of export industry to expedite customs clearances of export items.
The primary objective that will be served by this agreement is to facilitate ‘ease of exports’ for small and large exporters through postal channels from different parts of the country and will contribute towards making India an Export Hub for the world.
The agreement was signed by Mr. Prannoy Sharma, Deputy Director General (International Relations & Global Business), Department of Posts, Government of India and Mr. Robert H. Raines Jr., Managing Director, Global Business of United States Postal Service.
India Post and United States Postal Service (USPS) signs Agreement for Electronic Exchange of Customs Datarelated to postal shipments exchanged between the two countries
Department of Posts, Government of India (India Post) and United States Postal Service (USPS) have e
pib.gov.in
Joint Statement on the Third U.S.-India 2+2 Ministerial Dialogue
The text of the following statement was released by the Governments of the United States of America and India on the occasion of the third U.S.-India 2+2 Ministerial Dialogue.Begin text:
India’s Minister of Defence Rajnath Singh and Minister of External Affairs Dr. S. Jaishankar welcomed U.S. Secretary of State Michael R. Pompeo and Secretary of Defense Dr. Mark T. Esper to New Delhi for the third annual U.S.-India 2+2 Ministerial Dialogue. The Ministers welcomed the elevation of the U.S.-India relationship to a Comprehensive Global Strategic Partnership during the visit of President Donald J. Trump to India in February 2020. They reiterated their commitment to further strengthening the U.S.-India partnership, anchored in mutual trust and friendship, shared commitment to democracy, converging strategic interests, and robust engagement of their citizens.
While celebrating more than seven decades of diplomatic engagement between the United States and India, the Ministers intend to expand cooperation under the 2+2 framework to realize the full potential of the U.S.-India Comprehensive Global Strategic Partnership.
Cooperation during the COVID-19 Pandemic
The Ministers applauded the exemplary cooperation between the United States and India in confronting challenges emerging from the COVID-19 pandemic. They reiterated their resolve to strengthen cooperation in the development of vaccines, therapeutics, diagnostics, ventilators and other essential medical equipment. Recognizing that bilateral engagement in research and development and the mass production of vaccines and therapeutics plays to our respective strengths, the Ministers sought to jointly promote access to high quality, safe, effective and affordable COVID-19 vaccines and treatments on a global scale. India expressed appreciation for the 200 ventilators provided by the United States Agency for International Development (USAID) to the Indian Red Cross Society, while the U.S. expressed appreciation for India’s export of Personal Protective Equipment (PPE), essential medicines, and therapeutics to the United States during these challenging times. The Ministers looked forward to the conclusion of an overarching MoU between the U.S. Department of Health and Human Services (HHS) and India’s Ministry of Health and Family Welfare, including their component agencies and departments, to enhance health cooperation, including on health emergencies and pandemics, prevention, diagnosis and treatment of communicable and non-communicable diseases, and biomedical research and innovation. The Ministers also looked forward to the signing of the Memorandum of Understanding between the U.S. National Institute of Allergy and Infectious Diseases (NIAD/NIH) and the Indian Council of Medical Research (ICMR) to collaborate through an International Center of Excellence in Research focused on infectious diseases including COVID-19 and other emerging threats. They welcomed the upcoming call for applications for clinical research fellowships for early and mid-career American and Indian scientists to help expand the cohort of physician scientists focused on research that will advance clinical practice and benefit public health in both countries. Noting the importance of health sector cooperation, they also looked forward to convening the U.S.-India Health Dialogue at an early date.
The Ministers reaffirmed efforts to enhance supply chain resilience and to seek alternatives to the current paradigm, which had come under severe strain during the pandemic and exposed critical vulnerabilities. The Ministers sought to support the global economic recovery, including in India and the United States, to emerge from the pandemic more resilient than ever.
The Ministers expressed appreciation for the repatriation of stranded U.S. and Indian nationals from both countries during the pandemic.
Shared Vision for the Indo-Pacific and Global Leadership
The Ministers reiterated their commitment to maintaining a free, open, inclusive, peaceful, and prosperous Indo-Pacific built on a rules-based international order, underpinned by ASEAN centrality, rule of law, sustainable and transparent infrastructure investment, freedom of navigation and overflight, mutual respect for sovereignty, and peaceful resolution of disputes. Highlighting the importance of securing the economic and security interests of all stakeholders having a legitimate interest in the region, the Ministers welcomed the growing understanding on the Indo-Pacific among like-minded countries. They reaffirmed that closer U.S.-India cooperation will support shared interests in promoting security and prosperity in the Indo-Pacific region and beyond. They also emphasized that the Code of Conduct in the South China Sea should not prejudice the legitimate rights and interests of any nation in accordance with international law.
The Ministers welcomed the recent convening of the Second Australia-India-Japan-United States Quadrilateral Ministerial Meeting in Tokyo on October 6, 2020. They appreciated the exchange of views on regional issues of mutual interest, as well as ongoing cooperation related to maritime security, humanitarian assistance and disaster relief, regional connectivity, health security and counter terrorism. The Ministers also welcomed the fact that these Consultations would now be held annually. They expressed their support for further strengthening Quad cooperation through expanded activities, including initiating a dialogue among the development organizations of partner countries.
The Ministers expressed their support for sustainable, transparent, quality infrastructure development in the Indo-Pacific region. They looked forward to furthering collaboration between USAID and India’s Development Partnership Administration (DPA) with a view to undertaking joint projects in the region. The Ministers welcomed the establishment of a permanent presence of the U.S. International Development Finance Cooperation (DFC) in India this year. The United States expressed strong support for the Coalition for Disaster Resilient Infrastructure (CDRI) as a leading mechanism for promoting regional economic development. Recognizing the need to contain the build-up of sovereign debt in developing and low-income countries by ensuring responsible, transparent, and sustainable financing practices for both borrowers and creditors, the Ministers looked forward to exploring ways to cooperate under the Blue Dot Network. They also looked forward to the Second Indo-Pacific Business Forum (IPBF) to be held on October 28-29, 2020.
Building on a strong record of peacekeeping cooperation, the Ministers decided to expand joint capacity building efforts with partner countries in the Indo-Pacific and to participate in multilateral peacekeeping training exercises.
The Ministers discussed their shared interest in promoting a sovereign, peaceful, united, democratic, inclusive, stable and secure Afghanistan, including support for an Afghan-led and Afghan-owned peace process. They applauded India’s development assistance, and efforts to build trade linkages and multi-modal connectivity infrastructure for Afghanistan to enhance its regional connectivity to sustain growth and development over the long term.
The United States congratulated India for its non-permanent membership of the United Nations Security Council (UNSC) for the term 2021-2022. The Ministers reiterated their commitment to work together in close coordination at the UNSC and in International Organizations. The U.S. also reaffirmed its continued strong support for India’s permanent membership in a reformed UNSC as well as for India’s early entry into the Nuclear Suppliers Group (NSG).
Advancing the Defense and Security Partnership
Noting the 15th anniversary of the inaugural U.S.-India Defense Framework Agreement, the Ministers commended what has become a comprehensive, resilient, and multi-faceted Major Defense Partnership (MDP) between the United States and India. They applauded the significant step of the signing of the Basic Exchange and Cooperation Agreement (BECA). They also welcomed enhanced maritime information sharing and maritime domain awareness between their Navies and affirmed their commitment to build upon existing defense information-sharing at the joint-service and service-to-service levels and explore potential new areas of mutually beneficial cooperation.
The Ministers reaffirmed their commitment to deepening bilateral defense consultation and collaboration and to exploring opportunities to expand cooperative capacity-building efforts with partners across the region. They also affirmed their commitment to pursue increased cooperation between the Indian military and U.S. Central Command and Africa Command, including broader participation in exercises and conferences, so as to promote shared security interests. The U.S. appreciated India’s leadership in establishing an Information Fusion Centre for the Indian Ocean Region (IFC-IOR). The Ministers welcomed the positioning of a Liaison Officer from the U.S. Navy at the IFC-IOR and the positioning of an Indian Liaison Officer at NAVCENT, Bahrain and reiterated their intent to assign additional Liaison Officers.
The Ministers expressed satisfaction at the ongoing progress in the implementation of Logistics Exchange Memorandum of Agreement (LEMOA) and Communications, Compatibility and Security Agreement (COMCASA), including the expansion of secure communications capabilities to include secure video teleconference capabilities between their respective Navies, Armies and Air Forces as well as between respective Foreign and Defense Ministries. The Ministers welcomed the convening of the Military Cooperation Group (MCG) later this year to review bilateral military-to-military engagement including joint exercises, training and expert exchanges. They looked forward to interaction between the Special Forces of the United States and India.
The Ministers welcomed the inclusion of the Royal Australian Navy in the U.S.-India-Japan MALABAR Naval Exercise scheduled to be held in the Bay of Bengal and the Arabian Sea in November 2020. Highlighting the importance of deepening maritime cooperation and the growing sophistication of U.S.-India naval cooperation, the Ministers welcomed the PASSEX carried out by the Navies of both countries. They also looked forward to the convening of the next edition of the Tri-Services Amphibious TIGER TRIUMPH HADR Exercise and Army Exercises YUDH ABHYAS and VAJRA PRAHAR in 2021. The U.S. welcomed India’s co-hosting of the Indo-Pacific Armies Chiefs Conference (IPACC), Indo-Pacific Armies Management Seminar (IPAMS) and Senior Enlisted Leader Forum (SELF) in 2023.
The Ministers decided to work together to realize the development of their respective defense industries.
Acknowledging India’s contributions to the global supply chain of major defense platforms and commitment to defense innovation, the Ministers reiterated the importance of Defense Technology and Trade Initiative (DTTI), and stated their intention to fast track projects under DTTI. They noted with satisfaction the signing of a Statement of Intent (SoI) at the 10th DTTI meeting to strengthen dialogue on defense technology cooperation on several specific DTTI projects as well as a DTTI Standard Operating Procedure (SoP) for identification and development of joint projects. India looked forward to the participation by the U.S. Government and defense industry at the upcoming Aero-India in February 2021.
Recognizing the importance of cooperation in defense innovation, the Ministers welcomed the inaugural meeting between the Indian Defence Innovation Organization (DIO-iDEX) and U.S. Defense Innovation Unit (DIU) in July 2020. They also looked forward to the inaugural Industrial Security Annex (ISA) Summit later this year which would further strengthen defense industrial cooperation between both countries.
Strengthening Bilateral U.S.-India Cooperation
The Ministers welcomed efforts to rejuvenate and expand bilateral U.S.-India trade in the wake of the COVID-19 pandemic. In this regard, they noted ongoing discussions by the Unites States Trade Representative and India’s Ministry of Commerce and Industry to reach an understanding on improving market access, removing barriers to trade, and improving the business environment.
The Ministers noted with satisfaction the significant strides made under the four Pillars of the Strategic Energy Partnership (SEP) covering Oil & Gas, Power and Energy Efficiency, Renewables and Sustainable Growth. They also appreciated the progress made under the U.S.-India Gas Task Force and the launch of industry-led projects. They welcomed the announcement of new priorities and roadmap for each of the Pillars during the Ministerial meeting of the SEP held on July 17, 2020. With the objective of intensifying cooperation in the area of Strategic Petroleum Reserves (SPRs), the Ministers welcomed the signing of the Memorandum of Understanding in this regard.
Recalling the historic India-U.S. Civil Nuclear Agreement, the Ministers welcomed the project Division of Responsibility principles between the Nuclear Power Corporation of India Limited (NPCIL) and Westinghouse Electric Company (WEC) for the construction of six nuclear reactors at Kovvada, and looked forward to the detailed Division of Responsibility that would pave the way for a techno-commercial offer. The Ministers also welcomed the extension of the MoU between the Government of the United States of America and the Government of India concerning cooperation with India’s Global Centre for Nuclear Energy Partnership (GCNEP).The Ministers welcomed the virtual convening of the 17th meeting of the U.S.-India Counter Terrorism Joint Working Group and the 3rd Session of the U.S.-India Designations Dialogue on September 9-10, 2020. They denounced the use of terrorist proxies and strongly condemned cross border terrorism in all its forms. They emphasised the need for concerted action against all terrorist networks, including al-Qaeda, ISIS/Daesh, Lashkar-e-Tayyiba (LeT), Jaish-e-Mohammad (JeM) and Hizb-ul-Mujahideen. The Ministers called on Pakistan to take immediate, sustained and irreversible action to ensure that no territory under its control is used for terrorist attacks, and to expeditiously bring to justice the perpetrators and planners of all such attacks, including 26/11 Mumbai, Uri, and Pathankot. The Ministers also committed to continued exchange of information about sanctions and designations against terror groups and individuals, particularly in light of recent legislative changes in India, as well as countering the financing and operations of terrorist organizations, countering radicalism and terrorist use of the internet, cross-border movement of terrorists, and prosecuting, rehabilitating, and reintegrating returning terrorist fighters and family members.
The Ministers intend to enhance their ongoing cooperation in multilateral fora, including the UN. They also reaffirmed their support for the early adoption of a UN Comprehensive Convention on International Terrorism (CCIT) that will advance and strengthen the framework for global cooperation and reinforce the message that no cause or grievance justifies terrorism.
In view of the announcement made during President Trump’s visit to India to establish a new U.S.-India Counter-Narcotics Working Group, the Ministers welcomed the proposal to convene the first such virtual meeting later this year, with an in-person meeting in 2021, to enhance cooperation between U.S. and Indian drug and law enforcement agencies. The Ministers welcomed efforts by the U.S. Department of Homeland Security and India’s Ministry of Home Affairs to reinvigorate the Homeland Security Dialogue.
The Ministers welcomed the virtual convening of the U.S.-India Information and Communication Technology (ICT) Working Group on October 1, 2020. They reaffirmed their commitment towards an open, reliable and secure internet as well as the multi-stakeholder model of internet governance. They emphasized fostering cooperation between their industry and academia for an open, secure and resilient supply of strategic material and critical infrastructure and to independently evaluate the risk associated with deployment of emerging ICT technologies, including 5G networks.
The Ministers also welcomed the recent convening of the annual U.S.-India Cyber Dialogue on September 15, 2020 and the first U.S.-India Defense Cyber Dialogue on September 17, 2020.
Recalling their countries’ proud record of achievement in space science and satellite application, the Ministers applauded the ongoing collaboration between the National Aeronautics and Space Administration (NASA) and Indian Space Research Organization (ISRO), including on the NASA-ISRO Synthetic Aperture Radar (NISAR) satellite scheduled to be launched by 2022. The Ministers also looked forward to sharing Space Situational Awareness information, which will catalyze efforts to create the conditions for a safe, stable, and sustainable space environment. They also expressed the intent to continue the U.S.-India Space Dialogue as well as discussions on areas of potential space defense cooperation.
The Ministers welcomed the signing of a Memorandum of Understanding (MoU) for Technical Cooperation in Earth Observation and Earth Sciences between the U.S. National Oceanic and Atmospheric Administration and the Indian Ministry of Earth Sciences for developing a better understanding of regional and global weather origins in the Indian Ocean and advancing common research goals in meteorology, oceanography, and management of living marine resources. The Ministers welcomed the signing of an Agreement between the United States Postal Service and India’s Department of Post, which will facilitate the electronic exchange of customs data related to postal shipments. They also applauded the signing of the Letter of Intent (LoI) between the Office of Cancer Complementary and Alternative Medicine, U.S. Department of Health and Human Services and the Indian Central Council for Research in Ayurvedic Sciences, Ministry of AYUSH.
Nurturing People–to-People Bonds
Underscoring the importance of ties between our respective legislatures, the Ministers welcomed the launch of a U.S.-India Parliamentary Exchange.
Applauding the entrepreneurial spirit of Indians and Indian-Americans that has mutually benefitted both nations, the Ministers recognized the important role of people-to-people linkages in strengthening the overall bilateral relationship and economic ties. Both sides look forward to the next iteration of the India-U.S. Consular Dialogue to further increase cooperation and discuss issues of mutual concern, including visas, and familial issues related to marriage, adoption and child custody.
The Ministers welcomed the increasing number of Indian students in the United States and acknowledged the role of expanding educational ties and fostering entrepreneurship and scientific innovation. In this context, the Ministers welcomed India’s National Education Policy (NEP) 2020 which would pave the way for enhanced collaboration between academic institutions of both countries. The Ministers looked forward to discussions to further advance U.S.-India educational partnerships.
Appreciating the valuable contribution of the Fulbright-Nehru Program over the years in furthering exchange of outstanding academics and professionals between both countries, the Ministers celebrated the 70th anniversary of the Program this year.
The Ministers welcomed the commencement of issuance of 12-month reciprocal temporary duty visas to officials from both Governments as a step to facilitate the growing partnership.
The United States looks forward to hosting the next 2+2 Ministerial in 2021.
End text.
Joint Statement on the Third U.S.-India 2+2 Ministerial Dialogue - United States Department of State
The text of the following statement was released by the Governments of the United States of America and India on the occasion of the third U.S.-India 2+2 Ministerial Dialogue. Begin text: India’s Minister of Defence Rajnath Singh and Minister of External Affairs Dr. S. Jaishankar welcomed U.S...
www.state.gov
Indian students contributed $7.6 billion to US economy last year - Times of India
Indian students contributed $7.6 billion to the US economy in 2019-20, even though there was a 4.4% drop in the total number of Indian students. China remained the largest source of international students in the US, with the number of Chinese students increasing for the 16th consecutive year...
m.timesofindia.com
India, US are committed to rule of law unlike China, say US Senators
Senator John Cornyn on Wednesday said that the United States and India relationship will grow as both countries, unlike China, are committed to the rule of law which gives confidence to business and investors.Speaking in a virtual interaction on the theme “U.S. and India: Post Election Perspectives”, US Senator Mark Warner said that China follows the policy of authoritarian capitalism as it allows “ferocious domestic competition until the national champion arises” and then the champion is backed by the government in the world market.
“I think what we have seen is that China has this model where they allow ferocious domestic competition until the national champion arises on Huawei. That national champion then gets 75 per cent of the Chinese domestic market, and that translates into 20 per cent of the global market. And then the Chinese government would back that national champion with, in the case of Huawei 100 billion dollars,” Warner said.
He further said, “There is no American or Indian company, alone, that can compete with that. I think what I have seen is a growing consensus, both from Indian government representatives and particularly from Indian Americans that maybe a decade ago India wanted to kind of skirt, not being on the China side or on the American side. But I think echoing what Senator Cornyn said we both are nations that operate under the rule of law.”
Reiterating the strong India-US relations, Senator Cornyn said, “We have a large diaspora of Indian Americans in Texas. This is really how I got involved and, of course, through the Indo-American chambers in places like Dallas... We have earned a lot, and also learned about the incredible potential of the enhanced relationship between our two countries.”
He further said that China doesn’t play by the rules as India does. “Both the US and India are committed to rule of law, which gives confidence to business and investors. To me, that’s one of the greatest strengths of the US-India relationship. The Anglo jurisprudential heritage of both of our countries, and observing the rule of law and playing by the rules --in my opinion give greater predictability and competence to job creators and investors, and, I think, this is one reason why we are continuing to grow closer and closer together,” he added.
Another speaker in the discussion, former US Ambassador to India Richard Verma recalled the talks held between Prime Minister Narendra Modi and President-elect Joe Biden.
“You may have seen that Prime Minister Modi had a good call with President-Elect Biden. They talked about building out the strategic partnership, vaccine development, Covid-19 and climate change,” he said.
To this, Warner said, “I think both India and the United States need to rethink the supply chain. I think the US should rejoin some of these international efforts. I think we need to be like the trillion-dollar effort led by the European Union on vaccine distribution. The recent news on vaccination is very positive. But we need to have an international distribution system.”
On the US-India defense relationship, Cornyn said amid China’s continuous threat in the international waters the countries (QUAD) need to support each other.
“Yesterday (on Tuesday), I was talking to Indian Ambassador to USA Taranjit Singh Sandhu about this. While America has friends like India, China does not have many friends. I think we need to recognise the strength of friendship among ourselves like through the recent military exercises that were never undertaken,” he said.
He further said, “It’s obvious that China is not going to stop to threaten freedom of navigation and international sea lanes and jeopardise trade the economy of countries like India and the world. Hence, we have to continue to support one another.”
India, US are committed to rule of law unlike China, say US Senators
US Senator Mark Warner said that China follows the policy of authoritarian capitalism as it allows “ferocious domestic competition until the national champion arises” and then the champion is backed by the government in the world market.
Joint Press Statement on 10 years of Cooperation regarding the Global Centre for Nuclear Energy Partnership
Joint Press Statement on 10 years of Cooperation regarding the Global Centre for Nuclear Energy Partnership and the Extension of the Memorandum of Understanding for Cooperation between India and the United States of America for an Additional 10 YearsRecognizing India’s important commitment in 2010 to establish the Global Centre for Nuclear Energy Partnership (GCNEP) with a vision to promote safe, secure, and sustainable nuclear energy for the service of mankind through global partnership;
Highlighting the official opening of the GCNEP in 2017, the multilateral nature of the GCNEP, and its success in holding a large number of activities since its inception in 2010;
Marking the tenth year of cooperation between the United States and India at the GCNEP and the signing of the extension, for an additional ten years, to the Memorandum of Understanding between the Government of the United States of America and the Government of the Republic of India Concerning Cooperation with the Global Centre for Nuclear Energy Partnership, India, signed at New Delhi on November 7, 2010 (the GCNEP MOU);
Acknowledging the importance of nuclear security, including the security of radioactive sources, and calling for actions to address continuing and evolving nuclear security challenges, with the objectives of advancing implementation of nuclear security commitments and building a strengthened, sustainable and comprehensive global nuclear security architecture; and
Highlighting the importance of security of nuclear materials and facilities and radioactive sources including during transportation, combating illicit trafficking, nuclear forensics, nuclear security culture, information security, international cooperation, and synergy between nuclear safety and security and the central role of the International Atomic Energy Agency in strengthening the nuclear security framework globally,
The Government of India and the Government of the United States of America, recognizing and appreciating the strength of the enduring partnership between the two countries on matters of security and reaffirming the important contributions of the U.S.-India nuclear and radiological security cooperation for the benefit of their citizens and the world, extended their cooperation in this area in October 2020 by signing a ten-year extension of the GCNEP MOU.
The two Governments, seeking to build on the first ten years of strong cooperation and looking forward to robust cooperation over the next ten years, commit to:
- 1) Promote cooperation on initiatives aimed at giving an impetus to nuclear safety and security, research and development in nuclear science and technology under various schools of GCNEP;
- 2) Deepen the dialogue on nuclear and other radioactive material security by collaborating on advanced projects in the field (e.g. future technology), with the goal of sharing the outcomes in the international arena;
- 3) Wider inclusion of agencies of both Governments and relevant entities, as appropriate, involved in nuclear and radioactive material security, in order to ensure that the full spectrum of perspectives are shared; and
- 4) Build on the international recognition of the GCNEP, and reinforce that the two countries are partners for nuclear and radioactive material security by jointly developing and /or delivering trainings and other capacity-building opportunities for regional and international partners, including online content.
Joint Press Statement on 10 years of Cooperation regarding the Global Centre for Nuclear Energy Partnership | U.S. Embassy & Consulates in India
Joint Press Statement on 10 years of Cooperation regarding the Global Centre for Nuclear Energy Partnership and the Extension of the Memorandum of Understanding for Cooperation between India and the United States of America for an Additional 10 Years Recognizing India’s important commitment in...
in.usembassy.gov
Explained: What is the intellectual property MoU between India and the US, and how will it help?
India and the US this week signed a Memorandum of Understanding (MoU) on intellectual property cooperation.What is the MoU about?
The agreement, between the Commerce Ministry’s Department for Promotion of Industry and Internal Trade (DPIIT) and the United States Patent and Trademark Office (USPTO), aims to increase IP cooperation between the two countries.
It was signed virtually by DPIIT secretary Dr Guruprasad Mohapatra and USPTO director Andrei Iancu on Wednesday (December 2), nearly 10 months after India’s Cabinet had given approval for the country to enter the MoU.
“The MoU will go a long way in fostering cooperation between India and USA, and provide opportunities to both countries to learn from the experience of each other, especially in terms of best practices followed in the other country. It will be a landmark step forward in India’s journey towards becoming a major player in global innovation and will further the objectives of National IPR Policy, 2016,” the Commerce Ministry said in a release.
How will this MoU increase IP cooperation between India and the US?
* The MoU will facilitate the exchange and dissemination of best practices, experiences and knowledge on IP among the public as well as between and among the industry, universities, research and development (R&D) organisations and Small and Medium-sized Enterprises (SMEs). This will happen through their participation in programs and events that are singly or jointly organised by the participants.
* It is also expected to encourage collaboration in training programs, exchange of experts, technical exchanges and outreach activities.
* The MoU provides for the exchange of information and best practices on processes for registration and examination of applications for patents, trademarks, copyrights, geographical indications, and industrial designs, as well as the protection, enforcement and use of IP rights.
* It also provides for the exchange of information on the development and implementation of automation and modernisation projects, new documentation and information systems in IP and procedures for management of IP office services.
* It is also expected to foster their cooperation to understand various issues related to traditional knowledge and the exchange of best practices, including those related to traditional knowledge databases and awareness raising on the use of existing IP systems to protect traditional knowledge.
How will it be implemented?
The two sides will draw up a biennial work plan to implement the MoU, including detailed planning to carry out the cooperation activities like the scope of action.
Explained: What is the intellectual property MoU between India and the US, and how will it help?
India and the US this week signed a Memorandum of Understanding (MoU) on intellectual property cooperation. What is it about? How will it increase IP cooperation between India and the US? How will it be implemented?
indianexpress.com
India has been transparent in its forex intervention: US Treasury
Even as India was put on the monitoring list with nine others, the US Treasury had largely praises reserved for the country for being transparent on its foreign exchange intervention.The reason why India was put on the half yearly list report was that it met two of the three criteria -- "having a material current account surplus and engaging in persistent, one-sided intervention over the reporting period.”
This is not the first time that India was put in the list. India was there in the list in April 2018, but was removed by May next year. Economists say India’s current account surplus will likely turn into a current account deficit, which will automatically drop India from the list again.
India for several years has maintained a significant bilateral goods trade surplus with the United States, totaling $22 billion in the four quarters through June 2020. India’s exports to the United States are “concentrated in sectors that reflect India’s global specialization”, such as diamonds, pharmaceuticals, and IT services, while U.S. exports to India reflect India’s domestic needs such as fuels, aircraft, higher education, and software, it said.
India’s net purchases of foreign exchange accelerated notably in the second half of 2019, and continued with the net purchases for much of the first half of 2020. This pushed net purchases of foreign exchange to $64 billion, or 2.4 per cent of the gross domestic product (GDP), over the four quarters through June 2020, the US Treasury observed in its half yearly report.
“Treasury continues to welcome India’s long-standing transparency in publishing foreign exchange purchases and sales.”
In fact, “India has been exemplary in publishing its foreign exchange market intervention, publishing monthly spot purchases and sales and net forward activity with a two-month lag,” the report said.
The US Treasury said the Indian authorities, however, should “limit foreign exchange intervention to periods of excessive volatility, while allowing the rupee to adjust based on economic fundamentals.”
“India can also leverage the recovery period to pursue structural reforms that will open its market further to foreign investment and trade, including foreign portfolio investment in Indian sovereign and sub-sovereign bonds, thereby fostering stronger long-term growth," the report said.
The sharp contraction in the Indian economy in the first half of 2020 was due to the collapse in domestic demand brought on by the COVID-19 pandemic. The direct fiscal support of around 2 per cent of the GDP was “modest”, but there was "substantial monetary easing.”
India’s deep domestic demand contraction and slower recovery relative to its key trading partners contributed to the economy’s first four-quarter current account surplus since 2004, which was 0.4 per cent of GDP over the year to June 2020.
The reason why the country recorded a current account surplus was because as demand contracted during the Covid-19 lockdown, imports fell faster than exports. The surplus was also supported by low oil prices, relatively resilient remittance inflows, and steady services exports.
India has been transparent in its forex intervention: US Treasury
The reason why India was put on the half yearly monitorin list along with nine others, was that it had a 'material' current account surplus and engaged in 'persistent, one-sided intervention'
Clock may run out on interim deal with India, says top US trade negotiator
The top US trade negotiator on Wednesday indicated that though a smaller trade deal with India was within reach, the clock may run out on it because of a “political change” taking place.The reference was to President-elect Joe Biden taking over from President Donald Trump in the days to come.
“We’re not that far away from a deal like that,” said Robert Lighthizer, the US trade representative of the outgoing Trump administration. “We have a political change going on over here and that’s going to be a bit of a setback, certainly to the extent that I can facilitate that I’d be happy to do it, but there’s going to be some change and my guess is that’s going to slow things up.”
That, in other words, was the possible end of the Trump administration’s efforts to get a smaller, interim trade deal with India to set up a larger and more ambitious Free Trade Agreement (FTA) at a later stage.
Lighthizer put the prospects of that larger deal in perspective with characteristic bluntness, saying, “In terms of a major deal, the kind of deal that I know that your minister and our bosses would like, at least in concept - my guess is that’s going to take a while, my guess is, that’s not going to be happen anytime soon.”
Lighthizer was participating in a Confederation of Indian Industry’s (CII) annual summit, held virtually this year because of the Covid-19 pandemic.
India and the US have long-running trade differences, persisting across administrations in both countries. The Trump administration forced the pace of ongoing talks by ending special trade benefits for India in the summer of 2019.
Talks had since then been under way to find a resolution - a smaller, interim deal addressing immediate concerns to be followed up by a larger trade deal at a later stage.
The interim trade deal - that was referred to by Lighthizer on Wednesday as the small deal - was to reinstate India’s terminated trade benefits of duty-free exports to the US under the Generalised System of Preferences (GSP) in return for greater access for American companies to certain Indian markets and some concessions.
The two sides had wanted to have a deal ready to be signed and announced during Trump’s visit to India in February, but outstanding differences stayed in the way.
Lighthizer, known to be a tough negotiator, had cancelled a visit to India ahead of the president’s trip in a clear sign that the talks were stalemated.
Still publicly optimistic of a deal - which was described as “just a few phone-calls away” at one stage - the two sides had then said they will sign an interim agreement at a later time, either before or immediately after the November 3 election. But, as Lighthizer indicated, it’s over to the Biden administration now.
Donald Trump’s trade negotiator gives up on trade deal with India
It signals the likely end of the Trump administration’s efforts to get a smaller, interim trade deal with India to set up a larger and more ambitious Free Trade Agreement (FTA) at a later stage
US body announces $54 million investment in India to support infrastructure projects - Times of India
India Business News: An American financial corporation on Tuesday announced that it will invest USD 54 million in India to support the development of critical infrastructu
timesofindia.indiatimes.com
US congressmen call for sanctions against India over S-400 purchase
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http://****/us-unhappy-with-indias-s-400-air-defence-system-deal-with-russia-warns-of-this-action/
**** = i.d.r.w
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India’s-Russia defence deal may trigger US sanctions: Congressional report
The Congressional Research Service in its latest report to Congress, said “India’s multi-billion dollar deal to purchase the Russian-made S-400 air defence system may trigger US sanctions on India under the Countering America’s Adversaries Through Sanctions Act.”.
India's S-400 deal with Russia may trigger US sanctions: Congressional report | India News - Times of India
India News: India's multi-billion dollar deal to purchase the Russian-made S-400 air defence system may trigger US sanctions on New Delhi, a US Congressional repo
timesofindia.indiatimes.com
India's S-400 Missile Deal With Russia May Trigger US Sanctions: Report
India's multi-billion dollar deal to purchase the Russia-made S-400 air defence system may trigger US sanctions on New Delhi, a US Congressional report has warned.
www.ndtv.com
India's S-400 deal with Russia may trigger US sanctions: Congressional report
The CRS' reports are neither an official report of the US Congress nor reflect the view of Congressmen. They are prepared by independent experts for the lawmakers to take informed decisions.
US may impose sanctions due to S-400 deal between India and Russia: report
The United States may impose restrictions on India for buying billions of dollars worth of S-400 air defense missile systems from Russia.
groundreport.in