Latest news with #IndiaUS
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Business Standard
15-07-2025
- Business
- Business Standard
Nasscom launches US CEO Forum to boost India-US tech collaboration
Industry body Nasscom has launched a special forum to deepen India-US technology collaboration and provide a platform to reinforce the bilateral tech corridor as a foundation for global digital transformation and inclusive economic growth. The Nasscom US CEO Forum was launched at the Consulate General of India in New York last week. Cognizant CEO Ravi Kumar has been named Chair of the Forum, while Amit Chadha, CEO and Managing Director of L&T Technology Services, will serve as Co-Chair. Conceived as a premier leadership platform, the Nasscom US CEO Forum aims to advance the technology and innovation partnership between India and the United States, one of the world's most forward-looking bilateral relationships, the industry body said in a statement. The forum will bring together leading Indian tech CEOs and key US stakeholders to drive strategic dialogue across innovation, enterprise, policy, and talent development. A major milestone for the IndiaUS tech corridor! the Indian Consulate said in a post on X on the launch of the forum which is a strategic platform to strengthen cross-border technology collaboration reaffirming India's position as a trusted technology & innovation partner. Consul General of India in New York Binaya Pradhan said in a statement that the creation of the platform is timely, and it has potential to act as a force multiplier for India-US tech partnership and the future of innovation, talent, and global leadership. Nasscom President Rajesh Nambiar said the US CEO Forum brings together industry leaders to foster meaningful collaboration, align with key stakeholders, and explore new frontiers in innovation, talent, and investment. As both nations look to shape a future driven by technology and shared values, the Forum aims to strengthen connections that generate lasting impact across economies, communities, and global markets, Nambiar said. The Nasscom statement added that through strategic dialogue, policy engagement, and thought leadership, the forum advances the broader vision of deepening bilateral trade, as outlined in the Mission $500 Billion by Prime Minister Narendra Modi and President Donald Trump. The initiative aims to more than double total bilateral trade to $500 billion by 2030. "The US CEO Forum will serve as a sustained engagement platform to reinforce the IndiaUS tech corridor as a foundation for global digital transformation and inclusive economic growth," the statement said. Addressing the forum's launch at the Consulate, New York City Mayor Eric Adams reaffirmed NYC's commitment to strengthening ties with India's thriving innovation ecosystem, the Consulate's post on X said. The newly formed forum's chair Kumar noted that we are at the cusp of a new tech era driven by AI and deep tech, and this Forum will act as a vital bridge to navigate that transformation and unlock shared opportunities. Addressing the event, Deputy Commissioner for the Mayor's Office of International Affairs Dilip Chauhan said India's tech community continues to play an important role in driving global innovation. "Many of your companies are not only dealing in digital transformation but also creating jobs and investing significantly in the US, especially in New York City, Chauhan said. The forum will also focus on advancing the IndiaUS tech partnership from collaboration to co-creation, unlocking the transformative potential of AI, semiconductors, clean tech, and future skills. It will explore how cross-border partnerships can build resilient, secure, and innovation-led digital ecosystems. The launch brought together leaders from tech, policy, and industry to advance the IndiaUS technology partnership.
BBC News
01-07-2025
- Business
- BBC News
India-US trade: Is the 'big, beautiful' deal in trouble?
Is the "big, beautiful" India-US trade deal slipping out of reach?With just days to go before a 9 July deadline set by US President Donald Trump's administration, hopes of clinching an interim trade pact between Delhi and Washington remain alive but increasingly entangled in hard White House Press Secretary Karoline Leavitt hinting that the deal was imminent, and Indian Finance Minister Nirmala Sitharaman's upbeat assertion that Delhi would welcome "a big, good, beautiful" agreement - in response to Trump's claim that a trade deal with Delhi is coming and would "open up" the Indian market - negotiators remain locked in tough discussions. Key sticking points persist, particularly over agricultural access, auto components and tariffs on Indian trade officials have extended their stay in Washington for another round of talks, even as Delhi signals "very big red lines" on farm and dairy protections, and the US presses for wider market openings. The tone remains optimistic - but the window to strike a deal appears to be wants India to buy US corn - but here's why it probably won't"The next seven days could determine whether India and the US settle for a limited 'mini-deal' or walk away from the negotiating table - at least for now," says Ajay Srivastava, a former Indian trade official who runs Global Trade Research Initiative (GTRI), a Delhi-based think uncertainty hinges on a few key flashpoints - none more contentious than agriculture."There are two real challenges to concluding an initial agreement. First on the list is US access to the Indian market for basic agriculture products. India will need to protect its basic agriculture sector for economic and political reasons," Richard Rossow, who tracks India's economy at Washington's Center for Strategic and International Studies, told the years, Washington has pushed for greater access to India's farm sector, seeing it as a major untapped market. But India has fiercely protected it, citing food security, livelihoods and interests of millions of small Rossow says the "second issue is India's non-tariff barriers. Issues like India's growing set of 'Quality Control Orders' (QCO) are significant obstacles to US market access and may prove tricky to meaningfully handle in a trade deal".The US has raised concerns over what it calls India's growing and burdensome import-quality rules. Over 700 QCOs - part of the "self-reliant India" push - aim to curb low-quality imports and promote domestic manufacturing. Suman Berry, a senior member of a government think tank Niti Aayog, has also called these rules a "malign intervention" that restrict imports and raise costs for domestic medium and small scale industries. The elephant in the room is farm exports. India-US farm trade remains modest at $8bn, with India exporting rice, shrimp and spices, and the US sending nuts, apples and lentils. But as trade talks progress, Washington is eyeing bigger farm exports - maize, soya bean, cotton and corn - to help narrow its $45bn trade deficit with fear tariff concessions could pressure India to weaken its minimum support prices (MSP) and public procurement - key protections that shield farmers from price crashes by guaranteeing fair prices and stable crop purchases."No tariff cuts are expected for dairy products or key food grains like rice and wheat, where farm livelihoods are at stake. These categories are politically and economically sensitive, affecting over 700 million people in India's rural economy," says Mr a recent Niti Aayog paper recommends tariff cuts on US farm imports - including rice, dairy, poultry, corn, apples, almonds and GM soya - under a proposed India-US trade pact. It's unclear, however, whether the proposal reflects official government thinking or remains a policy suggestion on paper."If the US were to say 'no deal' if India does not include access on basic agriculture, then clearly American expectations were not set correctly. Any democratically-elected government will have political limits to commercial policy choices," says Mr what could happen with the deal now?Experts like Mr Srivastava believe that the "more likely outcome is a limited trade pact" - styled after the US-UK mini trade deal announced on 8 the proposed deal, India may cut tariffs on a range of industrial goods - including automobiles, a long-standing US demand - and offer limited agricultural access via tariff cuts and quotas on select products like ethanol, almonds, walnuts, apples, raisins, avocados, olive oil, spirits and tariff cuts, the US is likely to push India for large-scale commercial buys - from oil and LNG to Boeing aircraft, helicopters and nuclear reactors. Washington may also seek FDI easing in multi-brand retail, benefiting firms like Amazon and Walmart, and relaxed rules on re-manufactured goods."This 'mini-deal', if concluded, would therefore focus on tariff reductions and strategic commitments, leaving broader FTA issues - including services trade, intellectual property (IP) rights and digital regulations - for a future negotiation," says Mr the start, the India-US trade talks appeared to be grounded in a clear and fair vision."The two leaders [Trump and Modi] laid out a simple concept in their first summit this year. The US would focus on manufactured goods that are capital-intensive, while India would focus on items that are labour-intensive," says Mr Rossow. But things appear to have changed talks fail, Trump is unlikely to reinstate the 26% tariffs on India, experts believe. While 57 countries faced these levies in April, only the UK has secured a deal so far. Targeting India specifically could seem unfair. "Still, with Trump, surprises can't be ruled out," says Mr Srivastava.
Reuters
01-07-2025
- Business
- Reuters
India to finalise interim trade deal with US as early as this week, FT reports
July 1 (Reuters) - India is on track to finalise an interim trade agreement with the U.S. as soon as this week, the Financial Times reported on Tuesday, citing two people briefed on the talks.
Zawya
23-06-2025
- Business
- Zawya
Protecting Indian interest ‘supreme' in U.S. trade talks, says India trade ministry source
Protecting Indian interest is "supreme" in bilateral trade talks with the U.S., an Indian trade ministry source said on Monday, as the country rushes to clinch a trade agreement with the U.S. before the expiry of the pause on steep reciprocal tariffs imposed by President Donald Trump. (Reporting by Manoj Kumar, writing by Sakshi Dayal; Editing by Toby Chopra)
Bloomberg
10-06-2025
- Business
- Bloomberg
India, US to Expedite Trade Talks Ahead of Trump's Reciprocal Tariffs Deadline
India and the US will expedite trade talks to conclude an agreement that includes 'early wins' for both sides, an official said, as the two nations race to clinch a deal before Washington's tit-for-tat tariffs kick in next month. Trade officials from India and the US met in New Delhi for about a week to discuss issues including greater market access, digital trade, customs rules and technical barriers to trade, the official told reporters in New Delhi, asking not to be identified as the information isn't public. The US trade team arrived in New Delhi last week to advance trade negotiations.
