Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Economy

23 Nov 2021

India and U.S. Officials Finding Ways to Resolve Restricted Digital Trade Issues

The Index Today

Officials said that the India and the United States agreed to look for ways to resolve differences on issues such as market access and digital trade at the start of a two-day visit by U.S. Trade Representative Katherine Tai.

Negotiators from both countries have struggled for almost more than a year just to conclude a trade package as New Delhi and Washington argued over a range of issues, including tariffs.

Accompanied in New Delhi by her deputy Ambassador Sarah Bianchi, Tai raised market access restrictions, high tariffs, and unpredictable regulations and restricted digital trade between the two countries.

Tai told Indian officials, "These are issues where we intent to make progress and they will be on the top of my list during the visit," at a dinner hosted by Commerce Minister Piyush Goyal.

Goyal said at the dinner, "We have been uniquely tasked by our leaders, PM Modi and President (Joe) Biden, to strengthen our economic ties and trade based on transparency and fairness."

Tai said that there was huge potential for growth in areas such as digital economy, health services and agriculture.

Tai added that both countries have agreed to revive their Trade Policy Forum, after a gap of four years. The revived forum could help expand bilateral trade that has never seemed to live up to its potential.
Tai's office mentioned that the officials agreed that the forum will help deepen the bilateral trade relationship by establishing regular contact to resolve obstacles,

Reuters mentioned in the reports that the U.S.-Indian relations have grown steadily closer and both countries have joined with Japan and Australia in the so-called Quad group in an effort to push back against Chinese influence in the Indo-Pacific region. India is also working on ways to release national reserves of crude oil in tandem with the United States and other major economies in response to a request from Biden, Reuters reported earlier, citing government sources.

©Photo: list23

Clay pottery with table linens