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International Marketing

Group Members;Parul Sharda Parmod Arora

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Commercial Dialogue envisaged in the statement “India-U.S. Relations: A Vision for the 21st Century” made by the Prime Minister of India and the President of the United States of America on 23rd March, 2000 at New Delhi; For the further development and strengthening of commercial, trade and investment ties between Indian and U.S. private sectors are shared.

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Introduction

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These Terms of Reference are intended to provide a general framework to guide the development and maintenance of a public sector-private sector dialogue on commerce between India and the United States. This public-sector dialogue is envisaged to be an element of a broader economic/commercial dialogue between the two governments.

TERMS OF REFERENCE

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The Dialogue is a cooperative undertaking to facilitate regular discussion to deepen ties between the Indian and the American business communities.

This will be a forum where emerging issues affecting bilateral trade may also be discussed

 

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Organization of the Commercial Dialogue

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To ensure regularity in the conduct of the Dialogue, the Indian Department of Commerce and the U.S. Department of Commerce will maintain close contact with their private sector enterprises and business associations that are engaged in relevant activities to bring Indian and U.S. business representatives together.

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The Indian Department of Commerce and the U.S. Department of Commerce will communicate at the beginning of each year about, and agree upon at least one venue for conducting a public-private sector dialogue session.

The Indian Department of Commerce and the U.S Department of Commerce will then consult with the organizers of the meeting/event regarding their interest in having a Dialogue session associated with their programmed.

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Operational Provisions

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Within 90 days of the signing of these Terms of Reference, the Indian Department of Commerce and the U.S. Department of

Commerce will consult and develop a plan and procedures to implement these Terms of Reference.

The undertakings of either India or the United States pursuant to these Terms of Reference are contingent upon the availability of funds and subject to the laws and regulations of India and the United States.

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The Commercial Dialogue will be reviewedafter two years from the date of the signing of the Terms of Reference.

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To develop a schedule of meetings and activities for promotion of High Technology commerce

to take steps to remove systemic tariff and non-tariff barriers

to identify and generate awareness of market opportunities recognizing the importance of

private sector in this Endeavour

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Objectives 

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To create appropriate environment for successful High Technology commerce in partnership with private sector

To maintain regular information flow on the changes on respective export control laws, regulations and policies and establishment of mechanism for prompt discussion on any bilateral “dual use” export control issues.

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Overview:

The bilateral cooperation is now broad-based and multi-sectoral covering trade and investment, defense and security, education, science and technology, cyber security, high-technology, civil nuclear energy, space technology and applications, clean energy, environment, agriculture and health

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India-U.S. Relations

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Trade and Economic:

Mutual Investments:

Energy:

Clean Energy:

Science & Technology (S&T):

Health Sector:

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From a modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 63.7 billion in 2013.

India's merchandise exports to the U.S. grew by 6.8% from $ 35.97 billion during the period January-October 2013 to $ 38.42 billion during the period January-October 2014.

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India - US Trade

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Major items of export from India to US 

Textiles (15.7%)

Precious stones & metals (20.9%)

Mineral Fuel, Oil (10.9%)

Pharmaceutical products (10.8%)

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Trade during the year the period Jan-Oct 2014

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Organic chemicals (4.9%)

Machinery (4.9%)

Electrical Machinery (3%)

Lac, Gum, Resins (2.9%)

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Precious stones & metals (24.4%)

Aircraft, spacecraft, Parts (12%)

Machinery (9.8%)

Electrical machinery (6.5%)

Mineral Fuel, Oil etc (6.3%)

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Major items of export from U.S. to India 

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Optical instruments & equipment (6%)

Organic chemicals (3.4%)

Plastic Products (3.2%)

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USA is a major investing country in India in terms of FDI approvals, actual inflows, and portfolio investment. US investments cover almost every sector in India, which is open for private participants.

Since 2000, the two countries have been making efforts to strengthen institutional structure of bilateral economic relations by means of the “India-US Economic Dialogue” that aims at deepening the Indo-American partnership through regular dialogue and engagement. 28/12/2014

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U.S.-India Commercial Dialogue:

Smart Cities:

Digital India Initiative:

Infrastructure Collaboration Platform:

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IMPORTANCE IN 2014

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Bilateral Shared Forum on Manufacturing:

Cross-Border Trade and Investment:

Financing Infrastructure Development:

Indo-U.S. Investment Initiative:

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5th Strategic Dialogue session was held in New Delhi in late July 2014. in part due to a global economic downturn that has dampened commercial activity.

On July 29, Secretary of State John Kerry and Secretary of Commerce Penny Pritzker traveled to New Delhi for the 5th U.S.-India Strategic Dialogue, where they met with newly-seated Indian Prime Minister Narendra Modi and External Affairs Minister Sushma Swaraj.

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India’s New Government and Implications forU.S.Interests

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In a joint statement, the two sides reviewed bilateral dialogues and working groups on issues ranging from science and technology to regional security and counterterrorism.

On July 10, new Indian Finance Minister Arun Jaitley presented a partial-year national budget in pursuing substantive new economic reforms pledge to raise foreign direct investment caps in the insurance and defense sectors up from 26% to 49%.

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India becoming the world’s third largest economy by 2030; in purchasing power parity terms.

Modi is widely viewed in Washington as being good for business, especially through efforts to create a more stable and tax-friendly investment climate.

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Economic Policy Outlook

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Modi faces a busy foreign policy schedule to include appearances at five multilateral summit meetings before year’s end: the BRICS (Brazil, Russia, India, China, South Africa) summit in July;

SAARC

China

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Foreign Policy Outlook

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Japan

Iran

Pakistan

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Economic and Trade Issues

Security and Defense Issues

Human Rights Concerns

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Issues in U.S.-India Relations

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India’s estimated growth in population more than 68 cities projected to have more than one million citizens by 2030 and urban area household income may be $4 trillion in 15 years make it a critical market for future U.S. exports.

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Implication of International Trade in future

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THANKS