Masha Block
11/6/10
2:30pm
Obama to visit India, and both sides hope to expand business ties
America is trying to increase their ties with India and expand business ties. America brands have just now started to set up shop or expanded in India. Factories that are already in India are also expanding factories, sales outlets, and research laboratories. As a result, American exports to India in the first six months of 2010 are up 14 percent; nearly five times what it was a decade earlier. This corporate move can help better define the common economic interests of the United State and India and build on the trade and investment foundations the business community has already laid. Connections are all about economic and job growth for both the US and India.
American Officials have been pushing for India and other developing nations to open more industries like financial services to foreign competition, while the Indians are seeking reductions in American farm subsidies. American companies like Wal-Mart are also hoping that New Delhi will allow them to set up retail stores in India. Foreign companies cannot operate retail stores that sell products from multiple brands.
In time, they are hoping that Mr. Obama will agree to ease export restrictions on so-called dual-use technologies that can be used for both military and civilian purposes
1 comment:
It is a good news for both economy and international relation between the United States and India. People needs job and other countries could be a good market for goods and human resources. There should be less restriction in international trade.
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