Synopsis: Strengthening India-U. S economic partnership will help India to become a $5 trillion economy. Background India and the US have committed to the goal of increasing the bilateral trade in goods and services to $500 billion. Currently, the bilateral trade stands at $146 billion (2019). To achieve this, the Compound annual growth rate… Continue reading Measures to Strengthen India US economic partnership
Tag: ECO_3
Need of Specific Law for National Security Screening of Inward FDI
Synopsis – There is no clear law for national security screening of inward FDI in India. It is a major Contents1 Introduction-1.0.1 How India regulates foreign investments?1.0.2 What are the provisions required under the new FDI control law?1.0.3 Way forward- Introduction- As per some media reports, India may ease restrictions on FDI by Chinese companies.… Continue reading Need of Specific Law for National Security Screening of Inward FDI
Cabinet clears “74% FDI in Insurance Sector”
What is the news? The Union Cabinet has approved a proposal to amend the Insurance Act, 1938. It will increase the foreign direct investment (FDI) limit in the insurance sector to 74% from 49%. Conditions: The increase in the foreign direct investment(FDI) limit in the insurance sector comes with safeguards such as: The majority of… Continue reading Cabinet clears “74% FDI in Insurance Sector”
“Index of Economic Freedom” 2021 released
What is the News? The Heritage Foundation releases The Index of Economic Freedom 2021. Key Findings of Index of Economic Freedom 2021 India ranked 121st in the index with a score of 56.5 points under the category of ‘mostly unfree’. In Asia-Pacific, India ranked 26th among the 40 countries. Other Key Findings Singapore tops the… Continue reading “Index of Economic Freedom” 2021 released
Issue of Digital Services Tax between India and US – Explained
Table of contents What is Digital Services Tax (DST)? Why India introduced the Digital Service Tax? What are the accusations mentioned by the US? What India said in reply? What are the concerns associated with DST? Suggestions Recently the U.S. determined India’s Digital Services Tax (DST) as discriminatory. It concluded that the DST is causing… Continue reading Issue of Digital Services Tax between India and US – Explained
Delhi HC stays Future-Reliance deal
What is the News? Delhi High Court has provided interim relief to e-commerce major Amazon. It directed Future Retail Limited(FRL) to maintain the status quo with regard to the transfer of its retail assets to Reliance Retail. What are the issues in the Future-Reliance deal? What is the Future-Reliance deal? In 2020, Biyani’s Future Group… Continue reading Delhi HC stays Future-Reliance deal
Trade with China shrank in 2020, deficit at five-year low
News: According to the data from China’s General Administration of Customs (GAC), India’s trade with China declined in 2020 to the lowest level since 2017, with the trade deficit narrowing to a five-year low as India imported far fewer goods from China. Facts: Source: The Hindu Data Related to Trade between India and China: Bilateral Trade: The… Continue reading Trade with China shrank in 2020, deficit at five-year low
After rice, India’s wheat exports register highest ever export in six years: US Department of Agriculture.
News: US Department of Agriculture(USDA) has released its forecast of Indian wheat exports for 2020-21(July-June). USDA has estimated India’s Wheat Exports for 2020-21 (July-June) to be around 1.8 million tonnes (mt), as against its earlier estimate of one mt. That would be the highest ever in the last six years. Facts: India’s Wheat Exports: Source:… Continue reading After rice, India’s wheat exports register highest ever export in six years: US Department of Agriculture.
USTR slams India’s Equalisation levy
News: US Trade Representative (USTR) has released the findings of the Section 301 report. Source: The Hindu The report has said that India’s 2% equalisation levy is unreasonable or discriminatory potentially attracting withdrawal of US trade concessions or duties on Indian exports. What is Equalisation Levy? When was 2% Equalisation Levy introduced? In the Finance Bill 2020-21 a 2% digital service tax (DST) was… Continue reading USTR slams India’s Equalisation levy
UK-India Free Trade relations and Cairn Energy PLC issue
Synopsis: With the conclusion of UK-EU trade agreement, now there is an opportunity to work towards UK-India Free Trade Agreement but resolving Cairn Energy issue must be a priority for that. Introduction Present developments provide an opportunity for both India and UK to move the bilateral economic plan forward. Both countries have common interest in the issues, such as climate… Continue reading UK-India Free Trade relations and Cairn Energy PLC issue
