Mr Philip D. Murphy, Governor of New Jersey kicked off a seven-day, six-city visit to India with a business roundtable and reception, hosted by the U.S.-India Business Council (USIBC) and the Federation for Indian Chambers of Commerce and Industry (FICCI). Speaking at the ‘New Jersey-India Inaugural Business Roundtable’, organised by FICCI and USIBC, Governor Murphy emphasised on the strong partnership between New Jersey and India to a gathering of over 60 industry leaders.
“A strong bilateral partnership between New Jersey and India helps promote inclusive economic growth and new investments,” said Governor Murphy. “I look forward to working collaboratively with the USIBC and FICCI to strengthen our business relations and promote economic opportunity both in New Jersey and India,” he added. Amid growing interest in India at the U.S. state level, the visit is designed to strengthen economic connections to one of New Jersey’s largest trade and investment partners, as well as expand already extensive cultural and educational ties.
Source: Business Standard
Amidst visible signs of bonhomie between Prime Minister Narendra Modi and US President Donald Trump, the US is expecting more meaningful cooperation with India.
On Monday, Philip D. Murphy, governor, New Jersey, called on PM Modi and sought Indian investments in New Jersey, home to the Statue of Liberty.
The New Jersey governor, who is on his first diplomatic visit to India, met PM Modi and said his state would like to build a robust partnership with India. He also sought to promote closer ties with more Indian companies, who would want to do business in the US.
Source: The Week
New Delhi: India and the US will soon announce a “limited” trade package that will ease the entry of American agricultural goods, information and communications technology (ICT) products and medical devices into the Indian markets, ThePrint has learnt.
The trade package will be announced during Prime Minister Narendra Modi’s week-long visit to the US, which begins from 22 September. Modi and US President Donald Trump are expected to jointly announce the package, according to sources.
The final contours of the package were finalised during a telephonic conversation between Union Commerce and Industry Minister Piyush Goyal and US Trade Representative Robert Lighthizer Friday, the sources said.
Source: The Print
More than two months after Prime Minister Narendra Modi and U.S. President Donald Trump announced in Osaka that U.S. Trade Representative Robert Lighthizer and Commerce Minister Piyush Goyal should meet and resolve the trade impasse, there has been no meeting thus far, but U.S.-India Business Council (UIBC) president Nisha Biswal says she is hopeful they will meet before Mr. Modi travels to the U.S. this month. Excerpts:
Why have the trade representatives not been able to meet despite the leaders’ decisions during two separate meetings in the last three months?
I think it is a really busy time for the United States on the trade front. We are also in the midst of an intense set of back-and-forths with China; you have the U.S.-Mexico-Canada Agreement before the Congress.
What has prevented the trade representatives (TRs) from getting together is a matter of aligning schedules.
My understanding is both leaders have expressed a strong commitment to have the TRs to meet before PM Modi’s visit to the U.S. (September 21-28); I am hopeful that will still happen.
Source: The Hindu
Male [Maldives], Sept 3: Amid rising concerns over falling growth of Indian economy, US-India Business Council (USIBC) President and former assistant secretary State Nisha Biswal has said India can take advantage of China-US trade to push investments but it has to do more to attract investments.
Talking to ANI on the sidelines of Indian Ocean Conference, Biswal said: “We are in a global environment where we are seeing economic headwinds around the world in major economies. In the midst of that, it’s not surprising India is also facing some challenges. I think India could be a beneficiary in a global environment where companies are hesitant to invest more in China because they are looking for a trade war between the US and China. To resolve itself they should be looking more aggressively at India but they are not as ambitious as India needs to do more to attract those companies.”
WASHINGTON: President of US-India Business Council (USIBC) Nisha Desai Biswal has said India should present its growth vision and why businesses should look to invest in the country at a time when the global economy is beset with challenges.
Indian Prime Minister Narendra Modi is scheduled to visit the US later this month. Biswal, 55, said the USIBC members are eager to hear from him.
“The recent economic reforms announced (in India) have assured global investors that the Modi government is very seized with managing this economy and bringing India back into a more robust growth scenario,” she said.
WASHINGTON: The Pentagon and India’s Ministry of Defense are working together to “tailor” a standardized version of the Predator B Reaper attack drone for use by all three Indian armed services, with officials actively discussing how to finalize the long-planned sale.
Key to revising, and finalizing, export of the armed unmanned aerial vehicles (UAVs) is the ongoing effort by the Indian Army and Air Force to define their requirements, and the parallel work by India’s MoD to ensure that the sophisticated drone systems can work with current service platforms and systems, says Ben Schwartz of the Chamber of Commerce’s U.S.-India Business Council.
“The weapons systems, the avionics suite, the communications suite — they all need to be tailored to India’s needs, so it works with their other equipment,” he told me on Wednesday. “Then there is the issue of integration with their other platforms.”
Source: Breaking Defense
Amaravati: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has urged the US-India Business Council (USIBC) to work with his government to identify ‘5 big ideas’ to catalyse the US-Andhra Pradesh economic partnership.
He said that Andhra Pradesh and USIBC can prepare a roadmap to achieve investment and trade targets especially in the areas of agriculture and food security, healthcare, education, infrastructure and manufacturing.
He mooted the idea while addressing a business roundtable discussion organised by USIBC and the Atlantic Council’s South Asia Center.
Source: Times Now News
Andha Pradesh Chief Minister Y.S. Jagan Mohan Reddy welcomed the U.S. India Business Council (USIBC) to work with the Government of Andhra Pradesh (A.P.) for playing a catalytic role in strengthening the US-AP Economic Partnership.
Participating in a business round-table discussion jointly organised by the USIBC and the Atlanta Council’s South Asia Centre in collaboration with Georgetown University at Washington D.C., Mr. Jagan Mohan Reddy said the partnership with the US was a critical element for the future growth of A.P.
Source: The Hindu
Excerpted from a longer interview with USIBC President Nisha Biswal on the U.S.-India trade and the larger bilateral relationship.
How would you characterise the current India-US dynamic in the context of a so-called global trade war?
Clearly there are increasing trade tensions between the US and India, and that shouldn’t be entirely unexpected. As the trade and investment relationship between our countries deepens, more issues will emerge that require us to create more efficient pathways for business. And the US-India relationship has grown at an incredibly rapid pace over the last five-six years, expanding from $100 billion, when I was in government during the Obama Administration, to roughly $142 billion today.
There’s much more at stake today in US-India economic relationship than ever before, but also more opportunities for industry in both countries if we can find ways to address outstanding trade challenges. For India’s growth to hit double digits, it requires significant new investment inflows – and the United States is the largest single source of India’s FDI. However, ramping investment volumes will require addressing lingering investor concerns. At the same time, Indian companies are increasingly looking for investment opportunities in the United States as they source from the US or produce their goods here. So it’s in both countries’ interest to work through the hard issues on trade and reach agreements that will build confidence in the trade relationship.
Source: India Inc.