India - United States Relations
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First secure link between India, US navies set up
India and the US have set up the first ever secure communication link between the naval headquarters here and the US Central as well as Pacific Naval Commands under the landmark Indo-US COMCASA pact reached last year.
ET has reliably gathered that the US has also activated the Selective Availability Anti-Spoofing Module GPS system in some of C-130 and C-17 transport aircraft as a result of the implementation of the COMCASA (Communications, Compatibility & Security Agreement).
In a major boost to India’s defence diplomacy, the two upgrades will allow both sides to share real-time operational intelligence. In the case of the C-130s and C-17s, the systems were purchased but not activated because the US said it could not part with the encryption codes until the enabling COMCASA pact is signed. The establishment of a secure active link between the two navies is being seen as a significant step forward as India will gain access to latest US naval intelligence besides conducting joint operations in the future.
The link was set up, sources said, by a US team which visited India recently. The Comcasa pact will in due course enable both sides to operate on the same communication systems, thus helping build an “interoperable” environment for militaries.
Without this pact, the US could not part with highly coded communication gear with the military platforms they sell to India. As a result, India had to depend on less secure systems on, otherwise, high-end platforms like C-130Js and the P8I maritime surveillance aircraft, among others.
While negotiating the pact, India also obtained a reliability assurance from the US that it will ensure availability of secured communication equipment covered by the pact at all time as well as keep them operational.
India was also assured that the US will not share data from Indian platforms with another country, nor access this data without prior permission. Also, sources said, the choice to upgrade would rest with India and not wholly determined by the US.
First secure link between India, US navies set up
India and the US have set up the first ever secure communication link between the naval headquarters here and the US Central as well as Pacific Naval Commands under the landmark Indo-US COMCASA pact reached last year.
ET has reliably gathered that the US has also activated the Selective Availability Anti-Spoofing Module GPS system in some of C-130 and C-17 transport aircraft as a result of the implementation of the COMCASA (Communications, Compatibility & Security Agreement).
In a major boost to India’s defence diplomacy, the two upgrades will allow both sides to share real-time operational intelligence. In the case of the C-130s and C-17s, the systems were purchased but not activated because the US said it could not part with the encryption codes until the enabling COMCASA pact is signed. The establishment of a secure active link between the two navies is being seen as a significant step forward as India will gain access to latest US naval intelligence besides conducting joint operations in the future.
The link was set up, sources said, by a US team which visited India recently. The Comcasa pact will in due course enable both sides to operate on the same communication systems, thus helping build an “interoperable” environment for militaries.
Without this pact, the US could not part with highly coded communication gear with the military platforms they sell to India. As a result, India had to depend on less secure systems on, otherwise, high-end platforms like C-130Js and the P8I maritime surveillance aircraft, among others.
While negotiating the pact, India also obtained a reliability assurance from the US that it will ensure availability of secured communication equipment covered by the pact at all time as well as keep them operational.
India was also assured that the US will not share data from Indian platforms with another country, nor access this data without prior permission. Also, sources said, the choice to upgrade would rest with India and not wholly determined by the US.
First secure link between India, US navies set up
Text - H.R.2123 - 116th Congress (2019-2020): To provide for United States actions to advance the United States-India strategic relationship.
"As of 04/12/2019 text has not been received for H.R.2123"
"As of 04/12/2019 text has not been received for H.R.2123"
Trump administration set to end sanction exemptions for nations importing Iranian oil: report
Trump administration set to end sanction exemptions for nations importing Iranian oil: report
The Trump administration is set to inform five nations that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran, reports said Sunday.
Secretary of State Mike Pompeo plans to announce the policy move on Monday, which would no longer renew sanctions waivers for allies Japan, South Korea, and Turkey. The other countries no longer exempt are China and India.
The waivers for sanctions will expire on May 2. The Washington Post first reported on the move, and three sources confirmed the report to the Associated Press.
President Trump finalized the measure on Friday, according to the Post, in an effort to apply “maximum economic pressure” by cutting off its oil exports and reducing its main revenue source to zero.
In reaction to the administration’s move and expectations of tightening supply, early trading on Monday indicated Benchmark Brent crude oil futures rose by as much as 3.2 percent to $74.31 a barrel, the highest since Nov. 1, Reuters reports.
Trump administration set to end sanction exemptions for nations importing Iranian oil: report
The Trump administration is set to inform five nations that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran, reports said Sunday.
Secretary of State Mike Pompeo plans to announce the policy move on Monday, which would no longer renew sanctions waivers for allies Japan, South Korea, and Turkey. The other countries no longer exempt are China and India.
The waivers for sanctions will expire on May 2. The Washington Post first reported on the move, and three sources confirmed the report to the Associated Press.
President Trump finalized the measure on Friday, according to the Post, in an effort to apply “maximum economic pressure” by cutting off its oil exports and reducing its main revenue source to zero.
In reaction to the administration’s move and expectations of tightening supply, early trading on Monday indicated Benchmark Brent crude oil futures rose by as much as 3.2 percent to $74.31 a barrel, the highest since Nov. 1, Reuters reports.
India further delays retaliatory tariffs on U.S. products: official
India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.
The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.
Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.
But since then, New Delhi has repeatedly delayed the implementation of the new tariff.
Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.
India further delays retaliatory tariffs on U.S. products: official - Reuters
India has once again delayed the implementation of higher tariffs on some goods imported from the United States to May 15, a government official said on Friday.
The new tariff structure was to come into force from May 2, the spokeswoman said without citing reasons for the delay.
Angered by Washington’s refusal to exempt it from new steel and aluminum tariffs, New Delhi decided in June last year to raise the import tax from Aug. 4 on some U.S. products including almonds, walnuts and apples.
But since then, New Delhi has repeatedly delayed the implementation of the new tariff.
Trade friction between India and the U.S. has escalated after U.S. President Donald Trump announced plans earlier this year to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
In a further blow, U.S. on Monday demanded buyers of Iranian oil stop purchases by May or face sanctions, ending six months of waivers which allowed Iran’s eight biggest buyers including India to continue importing limited volumes.
India further delays retaliatory tariffs on U.S. products: official - Reuters
India-domiciled cos filed over 4,600 patents in US between 2015-2018: Nasscom
India-domiciled companies filed over 4,600 patents in the US between 2015-2018, a majority of which were from the technology domain, a report by industry body Nasscom said on April 26.
The report titled 'Emerging Technologies: Leading the Next Wave of IP Creation for India' highlighted how companies in India are creating intellectual property (IP) assets in the US, which is one of the most favoured destinations for filing patents.
Interestingly, Indian start-ups have filed nearly 200 patents in the US during 2015-18, and a majority of these focused on emerging technology areas including image processing, artificial intelligence, cyber security, vehicle technology and Internet of Things (IoT).
Overall, the share of technology patents from India-domiciled companies has consistently increased to 64.8 percent in 2017-18 from 51 per cent in 2015, the report said.
Within technology patents, the share of emerging technologies has increased consistently to 56.3 percent in 2017-18 from 38.3 per cent in 2015, while the share of computer and communication technology patents witnessed a decline.
AI led the emerging technologies patent race both in terms of number of patents (330 patents) as well as growth over the period 2015-18.
Apart from AI, there has been a consistent growth on building IP in other emerging tech domains with patents being filed in cyber security (193), IoT (107) and cloud computing (88) accounting for over 50 per cent of the tech patents filed in 2017-18, the report said.
Innovation is the key to driving transformation and such patents and trademarks are a testimony to this transformational growth, Nasscom President Debjani Ghosh said.
"As a country, India can further strengthen its potential as an innovation hub through more investments in research and strategic collaborations. We are confident that we will usher in a new wave of innovation and intelligence in the country," she added.
The study also highlighted the patent growth story in newer application areas including cyber security (96), digital payments (31), e-commerce (87) and navigation (58).
India-domiciled cos filed over 4,600 patents in US between 2015-2018: Nasscom
India-domiciled companies filed over 4,600 patents in the US between 2015-2018, a majority of which were from the technology domain, a report by industry body Nasscom said on April 26.
The report titled 'Emerging Technologies: Leading the Next Wave of IP Creation for India' highlighted how companies in India are creating intellectual property (IP) assets in the US, which is one of the most favoured destinations for filing patents.
Interestingly, Indian start-ups have filed nearly 200 patents in the US during 2015-18, and a majority of these focused on emerging technology areas including image processing, artificial intelligence, cyber security, vehicle technology and Internet of Things (IoT).
Overall, the share of technology patents from India-domiciled companies has consistently increased to 64.8 percent in 2017-18 from 51 per cent in 2015, the report said.
Within technology patents, the share of emerging technologies has increased consistently to 56.3 percent in 2017-18 from 38.3 per cent in 2015, while the share of computer and communication technology patents witnessed a decline.
AI led the emerging technologies patent race both in terms of number of patents (330 patents) as well as growth over the period 2015-18.
Apart from AI, there has been a consistent growth on building IP in other emerging tech domains with patents being filed in cyber security (193), IoT (107) and cloud computing (88) accounting for over 50 per cent of the tech patents filed in 2017-18, the report said.
Innovation is the key to driving transformation and such patents and trademarks are a testimony to this transformational growth, Nasscom President Debjani Ghosh said.
"As a country, India can further strengthen its potential as an innovation hub through more investments in research and strategic collaborations. We are confident that we will usher in a new wave of innovation and intelligence in the country," she added.
The study also highlighted the patent growth story in newer application areas including cyber security (96), digital payments (31), e-commerce (87) and navigation (58).
India-domiciled cos filed over 4,600 patents in US between 2015-2018: Nasscom
Intolerance anybody ?? I thought that was an Indian thing.
US war veteran mows down Indian-origin family, thought they were Muslims
The driver of the car, Isiah Peoples "intentionally targeted the victims based on their race and his belief that they were of the Muslim faith," Sunnyvale police chief Phan Ngo said.
Indo Asian News Agency, New Delhi, April 28, 2019, UPDATED: April 28, 2019 12:10 IST
US war veteran mows down Indian-descent family in California. (Photo: Twitter/@SunnyvaleDPS)
An African American Iraq War veteran intentionally ran down a family of Indian descent in California thinking they were Muslims, according to police.
A 13-year-old girl identified as Dhriti was in coma and fighting for her life after the attack in Sunnyvale on Tuesday, police said on Friday according to Mercury News.
The girl's father and 9-year-old brother, identified as Prakhar, were also hurt, according to police. One of the eight people injured was listed as Rajesh Narayan, 45, but it was not known if he was related to the two children.
The driver of the car, Isiah Peoples "intentionally targeted the victims based on their race and his belief that they were of the Muslim faith," Sunnyvale police chief Phan Ngo said according to local ABC7 TV station.
Peoples was produced in a San Jose court on Friday and charged with attempted murder.
ABC7 TV quoted police as saying that Peoples was on his way to a Bible study group when he drove his car into the pedestrians.
It reported that after the crash, a witness said she heard Peoples say, "Thank you Jesus, praise Jesus."
The newspaper quoted Ngo as saying that Peoples told detectives that he meant to hit the victims and did not show any remorse. He said that Peoples did not have a known criminal history or make any alarming social media posts.
His lawyer and family have said that Peoples suffered from mental problems.
Mercury News said his lawyer Chucks Smith disputed that the crash was intentional, saying that "this act was clearly the result of a mental disorder or defect".
Peoples, who had been a sergeant in the US Army, served 11 months in Iraq and had received several awards including a Global War on Terrorism Service Medal, the newspaper said.
It said that his brother and mother told reporters that he had shown signs of post-traumatic stress disorder after returning from Iraq and had at one point been hospitalised for psychiatric problems.
People's was working a government defense auditor.
Dhriti, who was a seventh-grade student at Sunnyvale Middle School, suffered bleeding and swelling of the brain, and the left side of her skull was removed to relieve pressure, Mercury News reported quoting a court document.
US war veteran mows down Indian-origin family, thought they were Muslims
US war veteran mows down Indian-origin family, thought they were Muslims
The driver of the car, Isiah Peoples "intentionally targeted the victims based on their race and his belief that they were of the Muslim faith," Sunnyvale police chief Phan Ngo said.
Indo Asian News Agency, New Delhi, April 28, 2019, UPDATED: April 28, 2019 12:10 IST
US war veteran mows down Indian-descent family in California. (Photo: Twitter/@SunnyvaleDPS)
An African American Iraq War veteran intentionally ran down a family of Indian descent in California thinking they were Muslims, according to police.
A 13-year-old girl identified as Dhriti was in coma and fighting for her life after the attack in Sunnyvale on Tuesday, police said on Friday according to Mercury News.
The girl's father and 9-year-old brother, identified as Prakhar, were also hurt, according to police. One of the eight people injured was listed as Rajesh Narayan, 45, but it was not known if he was related to the two children.
The driver of the car, Isiah Peoples "intentionally targeted the victims based on their race and his belief that they were of the Muslim faith," Sunnyvale police chief Phan Ngo said according to local ABC7 TV station.
Peoples was produced in a San Jose court on Friday and charged with attempted murder.
ABC7 TV quoted police as saying that Peoples was on his way to a Bible study group when he drove his car into the pedestrians.
It reported that after the crash, a witness said she heard Peoples say, "Thank you Jesus, praise Jesus."
The newspaper quoted Ngo as saying that Peoples told detectives that he meant to hit the victims and did not show any remorse. He said that Peoples did not have a known criminal history or make any alarming social media posts.
His lawyer and family have said that Peoples suffered from mental problems.
Mercury News said his lawyer Chucks Smith disputed that the crash was intentional, saying that "this act was clearly the result of a mental disorder or defect".
Peoples, who had been a sergeant in the US Army, served 11 months in Iraq and had received several awards including a Global War on Terrorism Service Medal, the newspaper said.
It said that his brother and mother told reporters that he had shown signs of post-traumatic stress disorder after returning from Iraq and had at one point been hospitalised for psychiatric problems.
People's was working a government defense auditor.
Dhriti, who was a seventh-grade student at Sunnyvale Middle School, suffered bleeding and swelling of the brain, and the left side of her skull was removed to relieve pressure, Mercury News reported quoting a court document.
US war veteran mows down Indian-origin family, thought they were Muslims
As Trump Says Time Up for Iranian Oil Imports, India’s Economy Straps in For a Rough Ride
In November 2018, the US had granted a six-month additional waiver to eight countries, including India and China, the biggest importers of Iranian oil.
Rishika Pardikar | News18.com
@rishpardikar Updated:April 30, 2019, 12:31 PM IST
Oil prices hit $74.30 a barrel, the highest since November 2018, on Monday as the grace period extended by the United States to certain countries to import oil from Iran despite sanctions ends later this week.
In November 2018, the US had granted a six-month additional waiver to eight countries, including India and China, the biggest importers of Iranian oil. Post this period, when the waiver ends on May 2, it would be safe to assume that bilateral relations, including trade relations, with the US would be strained.
The measure comes at the backdrop of the US withdrawing from the nuclear deal with Iran in May, 2018.
“Saudi Arabia and others in OPEC will more than make up the Oil Flow difference in our now Full Sanctions on Iranian Oil,” US President Donald Trump tweeted.
Mike Pompeo, US Secretary of State, too, said that the US has had “extensive and productive discussions with Saudi Arabia, the United Arab Emirates, and other major producers” to ensure the adequate supply of oil. Additionally, he also hinted that the US is increasing its oil production.
All of this would entail significant realignments in India’s oil import dynamics. Imports from Saudi Arabia and Iraq form the bulk of oil that India imports and Iranian oil ranks at number three.
Data obtained from the Department of Commerce seen by News18 shows that oil imports from Iran have increased over the past three years, as compared to previous periods.
Noting the trend, Talmiz Ahmad, former Indian diplomat to Saudi Arabia, UAE and Oman says that the spurt in Iranian oil imports in the past few months “were in anticipation of a US waiver.”
The US’ proclamation is for the future, he added. “This is in view of the ‘zero import’ policy put in place by Trump to exert maximum pressure on Iran so that it comes to the negotiating table for talks on a better Iran deal.”
The scale of oil imports from Iran had dropped in 2010-11 too and remained low till 2016-17. This was during Obama’s tenure when severe restrictions were imposed on Iran post the passing of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA).
In 2016, these sanctions were revoked by the US as part of an international agreement to monitor Iran’s nuclear capabilities.
After 2016, data shows that Indian imports of Iranian oil doubled from about 13.5 million tonnes to 27 million tonnes.
(Interactive graph here. Very interesting. Do check the link)
Chirag Gupta, Oil & Gas Consultant, PwC India, says that in the next few months, “imports from Saudi Arabia and the US could potentially increase” in view of restructuring supply chains given the restrictions imposed by the US.
“Crude oil imports from Iran could substantially fall… it would probably fall to the levels that we saw before Obama withdrew the sanctions, if not lesser.”
Interestingly, crude oil imports from the US have been on an upward trend since 2017-18. And this is only set to increase. News reports in February, 2019, stated that Indian Oil, the country’s top refinery, has signed a $1.5 billion deal to buy oil from the US.
As for trade relations with Saudi Arabia, the India-Saudi Arabia joint statement in February, during crown prince Mohammed Bin Salman’s visit, mentioned that “His Royal Highness the Crown Prince reiterated the Kingdom’s commitment to meet India’s growing needs for crude oil and petroleum products and substitute for any shortages that may arise as a result of any disruptions from other sources”.
Russia is another possible source, Gupta added “because India and Russia have been looking to further their energy ties.”
Implications of the US policy
“The US does not import any oil from Iran” Ahmad explained. “In fact, now that the US is flush with shale oil and its supplementary demands are being met by Canada and Mexico, it has drastically reduced its import of oil.”
“The US is in a strategically good place to enforce these embargoes because it is not affected,” he added.
India is one among the many countries that are affected, in addition to a host of other US allies like Japan.
“So, this is an extraordinary gesture from a country that is imposing penalties on Iran and is also simultaneously threatening many other countries that are its friends and allies” Ahmad said. “It is selfish and self-centered.”
As regards the direct impacts on Indian refineries, Ahmad says that refineries are built to handle particular kinds of oil, in terms of composition. “Certain refineries are committed to handling Iranian oil like the one in Mangalore.” So, refineries will not be impacted only if the new oil that is supplied is identical and compatible, he noted.
Commercially also, Iranian oil was supplied on competitive terms with a 60-day credit period. “The line of credit is important because these terms of trade are not available everywhere… for example, Saudi Arabia expects payment on the day of supply. Also, the cost of insurance is covered by Iran.”
A few months ago, the US also imposed sanctions on Venezuela and since then, oil imports to India from Venezuela have fallen. And the Iran announcement only further restricts the supply.
Internationally, too, the US announcement caused significant disruptions because of the hike in oil prices.
Ahmad says that the US policy towards Iran’s oil supply is not a sustainable one considering that “Iran has the third largest oil reserves in the world and at a time when the global economy desperately needs oil, only of the biggest suppliers cannot be excluded from the market on a long-term basis.”
Ahmad also makes a political case for evaluating US’ policy with respect to Iran. “Is the US not blackmailing the entire world?” he asks.
“I believe the US has now become a rogue state. It takes actions unilaterally and does not follow international norms. And this has brought a great amount of insecurity to the global economy.”
As Trump Says Time Up for Iranian Oil Imports, India’s Economy Straps in For a Rough Ride
In November 2018, the US had granted a six-month additional waiver to eight countries, including India and China, the biggest importers of Iranian oil.
Rishika Pardikar | News18.com
Oil prices hit $74.30 a barrel, the highest since November 2018, on Monday as the grace period extended by the United States to certain countries to import oil from Iran despite sanctions ends later this week.
In November 2018, the US had granted a six-month additional waiver to eight countries, including India and China, the biggest importers of Iranian oil. Post this period, when the waiver ends on May 2, it would be safe to assume that bilateral relations, including trade relations, with the US would be strained.
The measure comes at the backdrop of the US withdrawing from the nuclear deal with Iran in May, 2018.
“Saudi Arabia and others in OPEC will more than make up the Oil Flow difference in our now Full Sanctions on Iranian Oil,” US President Donald Trump tweeted.
Mike Pompeo, US Secretary of State, too, said that the US has had “extensive and productive discussions with Saudi Arabia, the United Arab Emirates, and other major producers” to ensure the adequate supply of oil. Additionally, he also hinted that the US is increasing its oil production.
All of this would entail significant realignments in India’s oil import dynamics. Imports from Saudi Arabia and Iraq form the bulk of oil that India imports and Iranian oil ranks at number three.
Data obtained from the Department of Commerce seen by News18 shows that oil imports from Iran have increased over the past three years, as compared to previous periods.
Noting the trend, Talmiz Ahmad, former Indian diplomat to Saudi Arabia, UAE and Oman says that the spurt in Iranian oil imports in the past few months “were in anticipation of a US waiver.”
The US’ proclamation is for the future, he added. “This is in view of the ‘zero import’ policy put in place by Trump to exert maximum pressure on Iran so that it comes to the negotiating table for talks on a better Iran deal.”
The scale of oil imports from Iran had dropped in 2010-11 too and remained low till 2016-17. This was during Obama’s tenure when severe restrictions were imposed on Iran post the passing of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA).
In 2016, these sanctions were revoked by the US as part of an international agreement to monitor Iran’s nuclear capabilities.
After 2016, data shows that Indian imports of Iranian oil doubled from about 13.5 million tonnes to 27 million tonnes.
(Interactive graph here. Very interesting. Do check the link)
Chirag Gupta, Oil & Gas Consultant, PwC India, says that in the next few months, “imports from Saudi Arabia and the US could potentially increase” in view of restructuring supply chains given the restrictions imposed by the US.
“Crude oil imports from Iran could substantially fall… it would probably fall to the levels that we saw before Obama withdrew the sanctions, if not lesser.”
Interestingly, crude oil imports from the US have been on an upward trend since 2017-18. And this is only set to increase. News reports in February, 2019, stated that Indian Oil, the country’s top refinery, has signed a $1.5 billion deal to buy oil from the US.
As for trade relations with Saudi Arabia, the India-Saudi Arabia joint statement in February, during crown prince Mohammed Bin Salman’s visit, mentioned that “His Royal Highness the Crown Prince reiterated the Kingdom’s commitment to meet India’s growing needs for crude oil and petroleum products and substitute for any shortages that may arise as a result of any disruptions from other sources”.
Russia is another possible source, Gupta added “because India and Russia have been looking to further their energy ties.”
Implications of the US policy
“The US does not import any oil from Iran” Ahmad explained. “In fact, now that the US is flush with shale oil and its supplementary demands are being met by Canada and Mexico, it has drastically reduced its import of oil.”
“The US is in a strategically good place to enforce these embargoes because it is not affected,” he added.
India is one among the many countries that are affected, in addition to a host of other US allies like Japan.
“So, this is an extraordinary gesture from a country that is imposing penalties on Iran and is also simultaneously threatening many other countries that are its friends and allies” Ahmad said. “It is selfish and self-centered.”
As regards the direct impacts on Indian refineries, Ahmad says that refineries are built to handle particular kinds of oil, in terms of composition. “Certain refineries are committed to handling Iranian oil like the one in Mangalore.” So, refineries will not be impacted only if the new oil that is supplied is identical and compatible, he noted.
Commercially also, Iranian oil was supplied on competitive terms with a 60-day credit period. “The line of credit is important because these terms of trade are not available everywhere… for example, Saudi Arabia expects payment on the day of supply. Also, the cost of insurance is covered by Iran.”
A few months ago, the US also imposed sanctions on Venezuela and since then, oil imports to India from Venezuela have fallen. And the Iran announcement only further restricts the supply.
Internationally, too, the US announcement caused significant disruptions because of the hike in oil prices.
Ahmad says that the US policy towards Iran’s oil supply is not a sustainable one considering that “Iran has the third largest oil reserves in the world and at a time when the global economy desperately needs oil, only of the biggest suppliers cannot be excluded from the market on a long-term basis.”
Ahmad also makes a political case for evaluating US’ policy with respect to Iran. “Is the US not blackmailing the entire world?” he asks.
“I believe the US has now become a rogue state. It takes actions unilaterally and does not follow international norms. And this has brought a great amount of insecurity to the global economy.”
As Trump Says Time Up for Iranian Oil Imports, India’s Economy Straps in For a Rough Ride
As US delays withdrawing GSP benefits, India postpones retaliatory tariffs
India on Thursday further delayed implementation of its June 2018 order to impose retaliatory tariffs on 29 US products by 14 days till 16 May as it awaits a final word from the US on its decision to withdraw duty-free benefits to Indian exporters.
On 20 June, India notified that it will hike tariffs on imports of 29 US products, including almonds, apples and phosphoric acid, worth $10.6 billion in retaliation to the steel and aluminium tariff hikes by the US in March 2018.
The US also announced in April last year to review the eligibility criteria of India currently accessing generalised system of preferences (GSP) benefits of zero duty on $6.3 billion worth of India exports.
India did not impose the retaliatory tariffs immediately, unlike other major trading partners of the US, as the two countries began discussions for finalizing a trade package that would include a withdrawal of the GSP review.
However, the talks collapsed as India refused to cede to disproportional demands by the US. On 4 March, the US announced its decision to withdraw GSP benefits for India by 1 May. The decision needs to be effected through a presidential proclamation, which has not happened.
“Our decision is a signal that if the US notifies withdrawal of GSP benefits for India, we could impose the long pending retaliatory tariffs," a commerce ministry official said on condition of anonymity.
This also comes at a time when US commerce secretary Wilbur Ross is scheduled to visit India on 6 May to attend the Indo-Pacific focused business forum in New Delhi. During his visit, Ross is likely to hold a bilateral meeting with India’s commerce minister Suresh Prabhu on the rising trade tensions between the two strategic partners. India is however, unlikely to make any commitments for concessions until a new government takes charge after the ongoing general elections end this month.
Trump has often pointed to the bilateral trade surplus India enjoys, claiming that it prohibits US exports through higher tariffs. He has often raised the issue of higher tariffs imposed by India on Harley-Davidson motorcycles and has threatened to slap reciprocal taxes on Indian bikes.
As US delays withdrawing GSP benefits, India postpones retaliatory tariffs
India on Thursday further delayed implementation of its June 2018 order to impose retaliatory tariffs on 29 US products by 14 days till 16 May as it awaits a final word from the US on its decision to withdraw duty-free benefits to Indian exporters.
On 20 June, India notified that it will hike tariffs on imports of 29 US products, including almonds, apples and phosphoric acid, worth $10.6 billion in retaliation to the steel and aluminium tariff hikes by the US in March 2018.
The US also announced in April last year to review the eligibility criteria of India currently accessing generalised system of preferences (GSP) benefits of zero duty on $6.3 billion worth of India exports.
India did not impose the retaliatory tariffs immediately, unlike other major trading partners of the US, as the two countries began discussions for finalizing a trade package that would include a withdrawal of the GSP review.
However, the talks collapsed as India refused to cede to disproportional demands by the US. On 4 March, the US announced its decision to withdraw GSP benefits for India by 1 May. The decision needs to be effected through a presidential proclamation, which has not happened.
“Our decision is a signal that if the US notifies withdrawal of GSP benefits for India, we could impose the long pending retaliatory tariffs," a commerce ministry official said on condition of anonymity.
This also comes at a time when US commerce secretary Wilbur Ross is scheduled to visit India on 6 May to attend the Indo-Pacific focused business forum in New Delhi. During his visit, Ross is likely to hold a bilateral meeting with India’s commerce minister Suresh Prabhu on the rising trade tensions between the two strategic partners. India is however, unlikely to make any commitments for concessions until a new government takes charge after the ongoing general elections end this month.
Trump has often pointed to the bilateral trade surplus India enjoys, claiming that it prohibits US exports through higher tariffs. He has often raised the issue of higher tariffs imposed by India on Harley-Davidson motorcycles and has threatened to slap reciprocal taxes on Indian bikes.
As US delays withdrawing GSP benefits, India postpones retaliatory tariffs
US cuts off India preferential trade access
US cuts off India preferential trade access
AFP•June 1, 2019
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme but Washington wants greater market access to the giant South Asian nation (AFP Photo/PRAKASH SINGH)
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Washington (AFP) - The United States will end preferential trade treatment for India from Wednesday, US President Donald Trump has announced, in a fresh economic headwind for New Delhi alongside slowing growth and record unemployment.
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $5.7 billion worth of duty-free goods in 2017, according to figures from US Congress.
Trump said in a statement issued late Friday that he wanted greater access for US goods to the giant South Asian nation.
"I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets," Trump said.
"Accordingly, it is appropriate to terminate India's designation as a beneficiary developing country."
Trump announced in March that he would be ending the preferential trade accord with India, but did not give a date.
Washington has sought to make India a closer diplomatic ally, but has long complained about limited access to the huge market of 1.3 billion people.
The US had a $26.7 billion trade deficit with India in 2017-2018.
The announcement is the latest headwind to threaten the Hindu nationalist government led by Prime Minister Narendra Modi, who was re-elected to his second term in a landslide just weeks ago after campaigning partly on his record as an economic reformer.
Official figures released Friday showed that India's growth slowed for the third straight quarter to 5.8% in January-March, while unemployment hit a 45-year high in 2018.
The Indian government made no immediate comment on Washington's move, but media reports said New Delhi was considering higher import duties on more than 20 US goods including agricultural produce and chemicals.
Indian commerce secretary Anup Wadahan played down the move to end the country's GSP status in March, saying that preferential trade accounted for a fraction of its nearly $80 million in annual exports to the US.
US cuts off India preferential trade access
AFP•June 1, 2019
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme but Washington wants greater market access to the giant South Asian nation (AFP Photo/PRAKASH SINGH)
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Washington (AFP) - The United States will end preferential trade treatment for India from Wednesday, US President Donald Trump has announced, in a fresh economic headwind for New Delhi alongside slowing growth and record unemployment.
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $5.7 billion worth of duty-free goods in 2017, according to figures from US Congress.
Trump said in a statement issued late Friday that he wanted greater access for US goods to the giant South Asian nation.
"I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets," Trump said.
"Accordingly, it is appropriate to terminate India's designation as a beneficiary developing country."
Trump announced in March that he would be ending the preferential trade accord with India, but did not give a date.
Washington has sought to make India a closer diplomatic ally, but has long complained about limited access to the huge market of 1.3 billion people.
The US had a $26.7 billion trade deficit with India in 2017-2018.
The announcement is the latest headwind to threaten the Hindu nationalist government led by Prime Minister Narendra Modi, who was re-elected to his second term in a landslide just weeks ago after campaigning partly on his record as an economic reformer.
Official figures released Friday showed that India's growth slowed for the third straight quarter to 5.8% in January-March, while unemployment hit a 45-year high in 2018.
The Indian government made no immediate comment on Washington's move, but media reports said New Delhi was considering higher import duties on more than 20 US goods including agricultural produce and chemicals.
Indian commerce secretary Anup Wadahan played down the move to end the country's GSP status in March, saying that preferential trade accounted for a fraction of its nearly $80 million in annual exports to the US.
Only $196 million worth of goods were duty free it was not like billions.
Secondly you need to read more about why GSP and other systems are in place your view will change greatly if you understand the basis behind it. It is always bigger economies that benefit most from global trade, that's why they are rich and growing, if you want to reduce purchasing power of other nations well good luck, kiss good bye to billions you make in a single defence deal of a conflict mostly orchestrated by you (just one example).
If low income nations form a block and start buying from each other and putting heavy duties on richer economies then? Integrated world benefits everyone, isolationist, protectionist policies have long term bad effects.