HT Image
HT Image

High stakes for US in Indian economy: Sharma

In a clear signal that its growing economy has high stakes for the American business, from nuclear to space sciences, India has asked the US to refrain from "irritants" like protectionist campaign against offshore outsourcing.
By HT Correspondent | PTI, Washington
UPDATED ON SEP 24, 2010 03:09 PM IST

In a clear signal that its growing economy has high stakes for the American business, from nuclear to space sciences, India has asked the US to refrain from "irritants" like protectionist campaign against offshore outsourcing.

"These are avoidable irritants, like what the Ohio outsourcing ban has been and hopefully that will not happen," Indian Commerce and Industry Minister Anand Sharma said here yesterday at an interaction with the Council on Foreign Relations, a prestigious think tank.

As the two countries are fast paving way for nuclear commerce, several US companies engaged in the atomic reactors are eyeing the lucrative and large Indian energy market. India is aiming at generation of 20,000 MW nuclear power by 2020 from 4,000 MW at present.

Sharma said two countries are engaged in a strategic partnership and, "we should do only what helps in strengthening and consolidating this partnership, because there is so much at stake here, from agriculture to nuclear and space sciences, when we are engaged".

Hoping that the recent developments on visa fee hike and ban on government outsourcing by the Ohio state would only be "transient", he said they should get resolved for the sake of larger picture of bilateral engagement.

"These developments sometimes end up creating transient negativity. It will hopefully get appropriately addressed when the larger picture is viewed...We must not lose sight of the long-term objectives," he said.

India and the US had a bilateral trade of about USD 36 billion in 2009-10. Besides growing demand from 8.5-8.8 per cent economic expansion, India offers a large scope for the US defence manufacturers.

Reports suggest that the two countries are negotiating a close to USD six billion defence deal for aircraft purchase from Boeing.

After the bilateral Trade Policy Forum (TPF) meeting here on September 21, Sharma had said that largest orders for Boeing aircraft have also been placed by India. "How many (US) jobs would have been sustained and and how many jobs would be created?," he had asked.

SHARE THIS ARTICLE ON
Close
In an interview with Mint, Jalan had earlier said that the ministry had assured the consortium that whatever slot is required will be made availab(File photo: Mint/ Abhijit Bhatlekar)
In an interview with Mint, Jalan had earlier said that the ministry had assured the consortium that whatever slot is required will be made availab(File photo: Mint/ Abhijit Bhatlekar)

Jet owner must apply for fresh airport slots, say authorities

By Rhik Kundu, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 11:56 PM IST
  • Lawyers representing the consortium had earlier insisted that DGCA and the aviation ministry must follow the principle of historicity and grant slots to the revived Jet Airways.
Close
The company also plans to introduce at least five new passenger vehicle models next year to drive sales, the people said.(Reuters)
The company also plans to introduce at least five new passenger vehicle models next year to drive sales, the people said.(Reuters)

Maruti targets record production

By Malayaban Ghosh, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 11:50 PM IST
  • The Suzuki Motor Corp. unit has told its suppliers about its strategies, asking them to ramp up production, the people cited above said on condition of anonymity.
Close
In other regions of Asia, too, markets ended higher, with Hong Kong’s Hang Seng index, China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi climbing 0.5-3%.(Bloomberg)
In other regions of Asia, too, markets ended higher, with Hong Kong’s Hang Seng index, China’s Shanghai Composite, Japan’s Nikkei 225 and South Korea’s Kospi climbing 0.5-3%.(Bloomberg)

Stocks soar over 2% on global rally amid growing optimism

By Nasrin Sultana, Ashwin Ramarathinam, Hindustan Times, Mumbai
PUBLISHED ON MAR 03, 2021 11:49 PM IST
  • The BSE Sensex gained 1,147.76 points or 2.28% to end at 51,444.65, while the Nifty surged 326.50 points or 2.19% to close at 15,245.60
Close
Data available till January end showed this class of tax filers, the biggest chunk of all tax filers, shrank 6.6% from a year ago.(Representational photo)
Data available till January end showed this class of tax filers, the biggest chunk of all tax filers, shrank 6.6% from a year ago.(Representational photo)

Salaried class shrank in FY20

By Gireesh Chandra Prasad, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 11:45 PM IST
  • For those filing returns for FY20 in form ITR-1—people with income from salaries, one house property and farm income up to 5,000—the last date for filing was January 10, 2021.
Close
A pedestrian wearing her facemask walks past a closed sign hanging on the door of a small business in Los Angeles, California on November 30, 2020. (AFP File Photo )
A pedestrian wearing her facemask walks past a closed sign hanging on the door of a small business in Los Angeles, California on November 30, 2020. (AFP File Photo )

Bank of America says US economy is hurt by a lack of workforce diversity

Bloomberg
PUBLISHED ON MAR 03, 2021 11:13 PM IST
“Rule 101 of investing is to diversify investment capital to maximize returns, so why don‘t we do the same with human capital?” an analyst said in a report.
Close
HDFC said customers who have good credit histories can avail new loans at 6.75%. (Abhijit Bhatlekar/ Mint)
HDFC said customers who have good credit histories can avail new loans at 6.75%. (Abhijit Bhatlekar/ Mint)

HDFC reduces interest rates on home loans

By hindustantimes.com, Hindustan Times, New Delhi
PUBLISHED ON MAR 03, 2021 09:44 PM IST
  • HDFC also outlined that the changes will affect customers who currently have availed home loan benefits from the lender.
Close
Pulkit Vij
Pulkit Vij

Pulkit Vij of Kamal Associates carries forward father’s ‘budget housing' dream

By HT Brand Studio
PUBLISHED ON MAR 03, 2021 07:09 PM IST
Even during the Covid-19 pandemic, the market continued to grow for Pulkit’s business because of their resolution to provide “Apna Ghar, Sabka Ghar”, which he treats like a daily mission.
Close
The cryptocurrency has been volatile. Prices plunged 21% last week and have recovered with the broad bounce back in equities.(REUTERS)
The cryptocurrency has been volatile. Prices plunged 21% last week and have recovered with the broad bounce back in equities.(REUTERS)

Bitcoin jumps above $50,000 in recovery from last week’s rout

Bloomberg
PUBLISHED ON MAR 03, 2021 06:24 PM IST
The digital token climbed 8% to trade around $51,500 in early US trading, reaching the highest level in a week.
Close
Representational image. (Getty Images/iStockphoto)
Representational image. (Getty Images/iStockphoto)

GST body could correct inverted duty on textile, fertiliser, footwear in March

By Rajeev Jayaswal
PUBLISHED ON MAR 03, 2021 05:29 PM IST
This is an old issue that required urgent attention now as businesses involved in these sectors are unable to claim input-tax credit because of higher levies on raw materials compared to the finished goods
Close
Sharma’s Paytm heads a group that includes ride-hailing startup Ola and at least five other companies. The fourth consortium consists of Tata Group, Mastercard, telecom operator Bharti Airtel Ltd. and retail banks Kotak Mahindra Bank Ltd. and HDFC Bank Ltd.(File Photo)
Sharma’s Paytm heads a group that includes ride-hailing startup Ola and at least five other companies. The fourth consortium consists of Tata Group, Mastercard, telecom operator Bharti Airtel Ltd. and retail banks Kotak Mahindra Bank Ltd. and HDFC Bank Ltd.(File Photo)

Amazon, Google among those vying for India’s digital payments market

Bloomberg
PUBLISHED ON MAR 03, 2021 05:10 PM IST
In a market where cash is still king, digital payments are quickly gaining ground as India’s 1.3 billion people are starting to embrace online shopping and services such as online gaming and streaming.
Close
The rates of regular petrol had last month crossed the <span class='webrupee'>₹</span>100-mark at a few places in Rajasthan and Madhya Pradesh. (HT File Photo )
The rates of regular petrol had last month crossed the 100-mark at a few places in Rajasthan and Madhya Pradesh. (HT File Photo )

Govt can cut excise duty on petrol, diesel by 8.5 a litre, say analysts

PTI, New Delhi
PUBLISHED ON MAR 03, 2021 05:10 PM IST
Excise duty was raised by 13 and 16 per litre on petrol and diesel between March 2020 and May 2020, and now stands at 31.8 on diesel and 32.9 per litre on petrol.
Close
Oil has staged a powerful rally this year, driven by significant OPEC+ curbs -- including unilateral cuts by Saudi Arabia -- and a vaccine-aided rebound in demand. (Representative Image)(REUTERS)
Oil has staged a powerful rally this year, driven by significant OPEC+ curbs -- including unilateral cuts by Saudi Arabia -- and a vaccine-aided rebound in demand. (Representative Image)(REUTERS)

Crude oil rises ahead of OPEC+ meeting on supply curbs

Bloomberg
PUBLISHED ON MAR 03, 2021 04:57 PM IST
The widespread view among the Organization of Petroleum Exporting Countries and its allies is that the oil market can absorb extra barrels, according to people familiar with the matter.
Close
WhatsApp has been adding a lot of new features to the app to enhance the overall user experience.(Reuters File Photo)
WhatsApp has been adding a lot of new features to the app to enhance the overall user experience.(Reuters File Photo)

WhatsApp users can now use animation for voice messages feature

ANI, Washington
PUBLISHED ON MAR 03, 2021 03:41 PM IST
WhatsApp users now would be able to switch off the read receipts that notify the sender of whether you've listened to the audio sent by them or not.
Close
People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (REUTERS)
People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (REUTERS)

Sensex closes 1,147 pts higher at 51,444, Nifty jumps 326 pts to end at 15,241

PTI, Mumbai
UPDATED ON MAR 03, 2021 04:32 PM IST
  • Sensex closes 1,140 pts higher to end at 51,437; Nifty ends session at 15,241
Close
Keep a close eye on your credit score and if possible clear off your credit card debts and existing loans that are smaller before availing a big loan.
Keep a close eye on your credit score and if possible clear off your credit card debts and existing loans that are smaller before availing a big loan.

Reassessing your financial strategy before opting for a big ticket loan

By HT Brand Studio
PUBLISHED ON MAR 03, 2021 03:37 PM IST
When you opt for a big ticket loan, you should make sure that your emergency fund has enough to accommodate EMI repayments for at least six months.
Close
SHARE
Story Saved
OPEN APP