{"id":56539,"date":"2020-03-04T15:07:50","date_gmt":"2020-03-04T09:37:50","guid":{"rendered":"https:\/\/blogadmin.forumias.com\/?page_id=56539"},"modified":"2020-03-04T15:07:52","modified_gmt":"2020-03-04T09:37:52","slug":"answered-how-deeper-cooperation-between-the-united-states-and-india-in-trade-can-help-india-achieve-5-trillion-economic-status","status":"publish","type":"page","link":"https:\/\/forumias.com\/blog\/answered-how-deeper-cooperation-between-the-united-states-and-india-in-trade-can-help-india-achieve-5-trillion-economic-status\/","title":{"rendered":"[Answered] How deeper cooperation between the United States and India in trade can help India achieve $5 trillion economic status?"},"content":{"rendered":"\n
\n Demand of the question<\/strong>\n Introduction.\n <\/strong>Contextual introduction.\n Body.\n <\/strong>Discuss how deeper cooperation in Indo-US trade\n can help India achieve $5 trillion economic status? Various issues in\n India-US trade.\n Conclusion.\n <\/strong>Way forward.\n <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

How\ndeeper cooperation in Indo-US trade can help India achieve $5 trillion economic\nstatus?<\/strong><\/p>\n\n\n\n

  1. Investment: <\/strong>The potential economic\nbenefits of India\u2019s partnerships with the US are significant. India requires $1\ntrillion over the next decade to upgrade its infrastructure, for which it needs\nforeign direct investment. For this US can play an important role. On other\nhand good ties with India can help US in economic growth which is hampered due\nto recent US-China tussle.<\/li>
  2. Trade ties with US allies: <\/strong>Due to\nthe rapid growth of China, collaborating with the US can help India progress\nfrom being a South Asian power to an Asian and eventually global power. The\nimproved relationship with the United States would help India\u2019s trade relation\nwith other US allies like Japan.<\/li>
  3. Countering China:<\/strong> A partnership\nwith the US will create more balance in a region increasingly dominated by\nChina. The deeper ties with India is an important part of the US’s pivot to\nAsia Policy. With the rise of India, China\u2019s hegemony is challenged which is\ngood for both India and US. India can replace China as USA’s top importing\ncountry.<\/li>
  4. Multipolarity:<\/strong> With change in\nglobal order, it is important for both US and India to deepen their ties as\nthere is no enemy or friends in these times. Whereas the US can help India to\nrise as an important power in a multipolar world, it can help the US\nstrategically in Indian Ocean by keeping India as a good friend.<\/li>
  5. Defence: <\/strong>The US is critical for\nIndia\u2019s indigenous defence production and to reduce the country\u2019s defence\nimport bill. With transfer of significant defence technology and equipment US\ncan help India to be self-sufficient to tackle future dangers. This will help\nIndia strategically and economically by increasing defence exports. <\/li><\/ol>\n\n\n\n

    Various\nissues between India-US relations:<\/strong><\/p>\n\n\n\n

    1. Tariffs:<\/strong> Bilateral tensions have increased over each side\u2019s tariff\npolicies. The US has accused\nIndia of relatively high average tariff rates, especially in agriculture. The\nUnited States and India are challenging each other\u2019s tariff measures in the\nWTO.<\/li>
    2. Intellectual Property (IP):<\/strong> The two sides differ on how to balance IP\nprotection to incentivize innovation and support other policy goals, such as\naccess to medicines. India\u2019s IP regime remains a top U.S. concern, and India\nremains on the \u201cSpecial 301\u201d Priority Watch List for 2018, based on such\nconcerns as its treatment of patents, infringement rates, and protection of\ntrade secrets.<\/li>
    3. Relations with Russia:<\/strong> The US is the all-time rival of Russia. While India is a friend\nof Russia. Russia has always supported India on an international platform. It\nhelped India to develop its defence capabilities. In 2018, India inked the\nhistoric agreement worth with Russia to procure four S-400 surface-to-air\nmissile defence system, the most powerful missile defence system in the world\nignoring America’s CATSA act. The U.S. threatened India with sanctions over\nIndia’s decision to buy the S-400 missile defence system from Russia.<\/li>
    4. Forced Localization:<\/strong> The United States continues to press India to address its\nforced localization practices, such as in-country data storage, domestic\ncontent, and domestic testing requirements, viewed by the United States as\npresenting barriers to trade with India. At the same time, India has moved to\nease some local sourcing rules for single-brand retailers, which would affect\ncompanies such as Apple.<\/li>
    5. Services:<\/strong> The United States and India are competitive in certain\nservices industries. A key issue for India is the U.S. temporary visa policies, which affect Indian nationals\nworking in the United States. India is challenging U.S. fees for worker visas\nin the WTO, and monitoring potential U.S. action to revise the H-1B\n(specialized worker) visa program. <\/li><\/ol>\n\n\n\n

      India and the U.S. should strengthen their\nrelationship on global and regional levels and look for issues of common\ninterest which can provide enormous opportunities for both countries to work\nclosely in reshaping the global political order. Both nations have the\npotential to grow together benefitting mutual interests and understanding each\nother better.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Demand of the question Introduction. Contextual introduction. Body. Discuss how deeper cooperation in Indo-US trade can help India achieve $5 trillion economic status? Various issues in India-US trade. Conclusion. Way forward. How deeper cooperation in Indo-US trade can help India achieve $5 trillion economic status? Investment: The potential economic benefits of India\u2019s partnerships with the US… Continue reading [Answered] How deeper cooperation between the United States and India in trade can help India achieve $5 trillion economic status?<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-56539","page","type-page","status-publish","hentry","entry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/56539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=56539"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/56539\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=56539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}