Just a moment...

Top
Help
×

By creating an account you can:

Logo TaxTMI
>
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    Markets climb in early trade on falling crude oil prices; RBI monetary policy decision awaited
    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
    Punjab govt committed to paying all valid dues; legal options being examined: FM Cheema
    ED searches multiple locations in Punjab, Chandigarh in PMLA case against PSIEC officials
    Rupee gains 9 paise against US dollar
    India, US working towards interim trade agreement: MEA
    Govt to adopt appropriate measures to mitigate fuel price volatility: MoS Finance
    Taxation laws (Amendment) Bill to attract more foreign capital, provide policy certainty introduced in LS
    Champion Mirabai Chanu Unveils MMTC-PAMP's 'Virasat' Recycled Gold Coin to Celebrate India's 80th Year of Independence
    Indian economy to hit USD 5-trillion mark in FY29 as per IMF: FM
    SVC Co-operative Bank Concludes 120th Annual General Meeting, Reaffirms Growth, Governance and Digital Focus
    Rupee falls 3 paise to close at 95.40 against US dollar
    Government Boosts MSME Financing Through SIDBI and ECLGS 5.0
    India's Market Opportunity is Growing, and the Trade is Taking Notice
    50,000 Students to Participate in Season 2 of the Franklin Templeton National Mutual Fund Olympiad 2026
    Currently nine trade disputes pending against India under WTO rules: Govt
    MNLU Mumbai Launches MBA in Entrepreneurship & Digital Business Law
    AU Small Finance Bank Savings Accounts: Competitive Interest Rates, Zero-Balance Digital Account Opening and 24x7 Mobile Banking
    Rupee opens on flat note, rises 3 paise to 95.34 against US dollar in early trade
    Meeting of Heads of National Statistical Offices of BRICS Countries “Quality Statistics as Driver of Change”
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    News
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    August 5, 2026
    Show AI Summary
    Monetary policy expectations shape equity sentiment as softer crude prices and foreign investment support domestic financial assets.
    Equity market sentiment improved in early trading as lower crude oil prices and foreign fund inflows supported benchmark indices, while investors awaited the monetary policy decision. Softer crude prices, rupee recovery, improving global risk sentiment, resilient economic growth, corporate earnings and sustained foreign portfolio investment supported domestic financial assets, despite continuing global and geopolitical uncertainties.
    August 5, 2026
    Show AI Summary
    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
    Show AI Summary
    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
    Pending dearness allowance arrears of government employees and pensioners are to be cleared within a fortnight, with restraint on unproductive expenditure until admissible dues are paid. The government states that it will pay constitutionally and legally valid dues while examining the judgment, precedents and possible legal remedies. It attributes the arrears to delayed pay commission implementation and frozen dearness allowance, and states that a structured liquidation plan has been prepared and partly implemented.
    August 4, 2026
    Show AI Summary
    Money-laundering investigation examines alleged fraudulent industrial plot allotments, benami holdings and diversion of plots to residential use.
    A money-laundering investigation under the Prevention of Money Laundering Act examines alleged irregularities in industrial-plot allotments involving corporation officials, private persons, property dealers and alleged benamidars. The inquiry concerns alleged use of fictitious firms and false addresses to obtain plots, allotments to relatives and associates, and alleged diversion or change of land use from industrial to residential purposes. These activities are alleged to have generated private gains while causing loss to the public exchequer.
    August 4, 2026
    Show AI Summary
    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
    Show AI Summary
    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
    Show AI Summary
    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
    Fuel-price volatility is to be mitigated through fiscal and administrative measures that protect consumers while maintaining fiscal sustainability. The approach includes monitoring revenue and expenditure, reprioritising spending, and using fiscal measures when economic conditions require. Reduced central excise duty on petrol and diesel moderated the impact of elevated international crude prices and partly offset under-recoveries of public-sector oil marketing companies. Longer-term measures include revenue mobilisation, import diversification, Strategic Petroleum Reserves, cleaner fuels and energy efficiency.
    August 4, 2026
    Show AI Summary
    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
    The proposed Bill seeks to simplify conditions for foreign investment funds using fund managers in India without being treated as carrying on business in India, while retaining safeguards against misuse and round-tripping. It proposes removal of approval requirements for foreign cloud companies using Indian data centres and permits leased operation of Indian data centres. It also extends tax support for foreign companies participating in electronics contract manufacturing and component warehousing, preserves tax-free dividends for REIT and InvIT investors in specified circumstances, and removes the prohibition on Merchant Discount Rate charges for notified electronic payment modes.
    August 4, 2026
    Show AI Summary
    Responsible precious-metals recycling supports recycled-gold products, organised buyback channels and a more self-reliant domestic supply chain.
    Responsible precious-metals recycling is promoted through a commemorative recycled-gold coin intended to support domestic recycling, responsible sourcing and a self-reliant supply chain. The product is described as having certified purity authentication, tamper-proof packaging, a unique identification number and an assayer-certified minted card. The initiative seeks to reduce dependence on imported gold and expand organised, transparent recycling infrastructure. An organised silver buyback programme is also described as supporting secure consumer sales and a circular economy for precious metals.
    August 4, 2026
    Show AI Summary
    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
    The growth strategy combines agricultural productivity, manufacturing, MSME support, infrastructure, logistics, ease of doing business, streamlined income-tax and GST reforms, innovation, digitalisation, human-capital development, energy security, public capital expenditure, foreign direct investment liberalisation, export promotion, fiscal prudence and price stability. Trade resilience is to be strengthened through expanded trade agreements, while manufacturing, services, agriculture and strategic sectors receive targeted policy support. The material also reports secured-asset enforcement cases and recoveries by banks under the SARFAESI framework during FY25.
    August 4, 2026
    Show AI Summary
    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
    August 4, 2026
    Show AI Summary
    Foreign-exchange market conditions weakened the rupee as oil prices, domestic equities and dollar strength shaped near-term currency expectations.
    The rupee weakened against the US dollar amid elevated crude oil prices, weaker domestic equities and a stronger dollar index, while foreign fund inflows moderated the decline. Attention shifted to the central bank's monetary policy meeting, with continuation of the existing benchmark policy rate anticipated. Earlier measures encouraging overseas dollar deposits and facilitating foreign participation in government bonds were reported to support capital inflows and India's external position.
    August 4, 2026
    Show AI Summary
    MSME credit expansion combines SIDBI lending initiatives with guaranteed additional working-capital facilities for eligible borrowers.
    MSME credit access is being expanded through SIDBI's branch network, direct lending, refinance support, co-lending arrangements, affordable credit for informal micro-entrepreneurs, and invoice-based digital credit for micro enterprises. Emergency Credit Line Guarantee Scheme 5.0 enables eligible MSMEs to obtain additional credit linked to peak fund-based working-capital outstanding, with full guarantee coverage for member lending institutions against defaults on the additional facility. The scheme also covers scheduled passenger airlines under distinct eligibility and guarantee parameters.
    August 4, 2026
    Show AI Summary
    Furniture and interiors sourcing platform connects Indian manufacturers with domestic and international trade buyers through direct procurement opportunities.
    imm india 2026 is presented as a business-to-business sourcing platform linking Indian furniture, home de cor, rug, carpet, mattress and handicraft manufacturers with domestic and international trade buyers. It is intended to provide direct manufacturer access, design-led sourcing and project-scale procurement opportunities for architects, designers, retailers, hospitality professionals and real estate developers. The programme includes a hosted buyer initiative, industry conferences, knowledge sessions and awards addressing innovation, sustainability, craftsmanship and design.
    August 4, 2026
    Show AI Summary
    Financial literacy Olympiad builds students' practical understanding of mutual funds, financial planning, market concepts and responsible investment participation.
    Financial literacy and investment awareness are promoted through a nationwide, multi-level educational competition for undergraduate and postgraduate students. Participants are assessed on mutual funds, investment fundamentals, financial planning, market concepts and long-term wealth creation, with exposure to market-linked products including ETFs, portfolio management services, alternative investment funds and specialised investment funds. The initiative combines academic institutions and financial-sector participants to improve practical investment knowledge, informed decision-making and responsible participation in investment markets.
    August 4, 2026
    Show AI Summary
    WTO dispute settlement challenges test India's safeguards, agricultural support, technology tariffs and production-linked incentives across pending proceedings.
    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
    August 4, 2026
    Show AI Summary
    Digital business law and entrepreneurship education combine management, compliance and innovation training for technology-driven enterprise careers and ventures.
    The MBA programme integrates management education, entrepreneurial capability, digital business law, and legal and policy awareness for technology-driven enterprise. It addresses compliance, digital platforms, data-driven decision-making, artificial intelligence, digital transactions, intellectual property, cross-border commerce and evolving regulatory frameworks. The programme is designed for prospective founders, start-up professionals, transforming family businesses and careers in consulting, strategy, business development, policy-oriented enterprises and digital commerce, with industry-relevant entrepreneurship education and digital-first learning.
    August 4, 2026
    Show AI Summary
    Savings account access expands through video KYC, mobile banking, no-minimum-balance options, monthly interest payments and deposit insurance coverage.
    Savings accounts provide monthly interest payments, liquidity and access to funds, subject to eligibility, internal policies and applicable terms. Digital account opening through Video KYC is available for an account with no minimum balance requirement, supported by mobile banking for UPI transfers, bill payments and balance monitoring. Account variants include premium, value-oriented, agricultural, financial-inclusion, children's and basic no-frills accounts. Deposit insurance applies up to the prescribed limit per depositor per bank.
    August 4, 2026
    Show AI Summary
    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
    Show AI Summary
    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.

    News

    Back

    All News

    Showing Results for :
    Reset Filters
      No Records Found

      News

      Back

      All News

      whatsappJoin Channel
      Showing Results for : Reset Filters
      Customs, DGFT & SEZ

      India and United States Joint Statement on the Trade Policy Forum Delhi – October 20, 2016

      October 21, 2016

      Contents
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Minister of Commerce and Industry of India Ms. Nirmala Sitharaman and U.S. Trade Representative Ambassador Michael Froman met in Delhi on October 20, 2016, for the tenth ministerial-level meeting of the India and United States Trade Policy Forum (TPF).

      The Ministers agreed that the TPF has greatly strengthened U.S. - India engagement on bilateral trade and has increased trade and enhanced the overall economic relationship. In addition to the High Level Working Group on Intellectual Property and the Manufacturing Dialogue that Prime Minister Modi and President Obama launched under the TPF, the Forum has gained momentum with regular Ministerial meetings in 2014, 2015 and 2016, supported by inter-ministerial work of established working groups on agriculture, trade in services and trade in goods, promoting investment in manufacturing, and intellectual property. During this time period the Ministers acknowledged that India issued a National Intellectual Property Policy, liberalized foreign direct investment (FDI) in various sectors, and reduced customs processing time, and that the United States ratified the Defend Trade Secrets Act, and advanced implementation of its single window.

      While welcoming the success of the TPF to date, and that two-way bilateral goods and services trade reached $109 billion in 2015, the Ministersrecognized that for economies of their size, a great deal of potential remains. Both sides agreed to continue their efforts for exploring possibilities for opening up the markets as well as expand share of existing trade to each other’s territory. 

      Sharing a desire to increase bilateral trade in goods and services, the two governments reviewed substantive progress achieved in deepening bilateral trade and investment in 2016, and discussed planned engagement for 2017 which can further promote economic growth and job creation in both India and the United States.  Minister Sitharaman and Ambassador Froman discussed and exchanged views on a range of trade and investment issues, in particular, (i) Agriculture, (ii) Trade in Services and Trade in Goods, (iii)Promoting Investment in Manufacturing, and (iv) Intellectual Property.  The co-chairs of the respective Work Sessions briefed Minister Sitharaman and Ambassador Froman on the outcomes of their discussions and presented agreed upon work plans for continued engagement in these areas in 2017. The Minister and the U.S. Trade Representative also discussed the status of Indian and U.S. trade agreements with other countries and ways to ensure that bilateral trade and investment between India and the United States can continue to grow.

      Both countries noted the importance attached to the TPF by Prime Minister Modi and President Obama, and its potential to increase bilateral trade and investment in a manner that supports economic growth, development, and job creation.

      Agriculture

      India and the United States acknowledged the benefits to Indian and U.S. farmers and agri-businesses that could accrue from increased bilateral engagement. Both countries agreed to continue working to facilitate bilateral trade in food and agricultural products and committed to holding technical dialogues on animal health, plant health, and food issues during 2017. India and the United States reviewed the results of the technical dialogues that took place in 2016. 

      Both countries recognize the need to establish science- and risk-based regulations and procedures that are based on international standards and guidelines set by CODEX Alimentarius, the World Organization for Animal Health (OIE), and the International Plant Protection Convention (IPPC), and agreed to address this important topic in technical dialogues and other forums.  Both countries also agreed to share best practices between their Sanitary and Phytosanitary (SPS) Enquiry points. The United States acknowledged India's suggestion to work towards conformity based assessment system and mutual recognition systems for food products to facilitate exports.

      Minister Sitharaman and Ambassador Froman noted each other’s requests and agreed to follow up on exploring the possibility of enhanced market access on identified agricultural products. Both sides welcomed India’s increased shipments of mangoes and pomegranates to the United States in 2016.The United States agreed to a timely review of the information submitted by export of grapes from India. Subsequent to the receipt of additional information from the United States, India agreed for a timely review of the request for export of U.S. cherries and alfalfa hay. The United States also agreed to further collaboration to facilitate Indian rice and honey exports. India acknowledged the receipt of the U.S. proposal on Certificate for Pork Exports to India and Form 9060-5 recently submitted and agreed for a quick examination of the request. Discussion of mandatory package size requirements for pre-packaged foods for some items in India will continue in 2017. 

      The United States and India discussed regulation relating to end-use information for boric acid, imported and domestic, used for non-insecticidal purposes. Both sides agreed to discuss U.S. concerns regarding market access for dairy products. U.S. concerns on GM and licensing issues were noted by India.

      The Ministers discussed recommendations in India’s February 2016 Economic Survey concerning agricultural reforms.  Given the countries’ mutual interest in boosting farmer income and ensuring consumer welfare, both sides agreed to deepen collaboration on best practices that can benefit both farmers and consumers.

      Trade in Services and Trade in Goods

      Minister Sitharaman and Ambassador Froman highlighted the important role of the services sector in India and the United States, and the significant potential for increasing bilateral services trade and investment.  To advance this goal, India and the United States discussed efforts to promote foreign investment in key services sectors. Both sides stressed the need to explore policy measures that would facilitate enhanced mutual ties in service sectors. Both countries reviewed technical engagement that took place in 2016. 

      The importance of e-commerce, retail and direct selling in facilitating trade in goods was acknowledged by both sides. India noted that 100 percent foreign direct investment (FDI) is now permitted in the marketplace model of e-commerce as well as in the distribution of food products produced in India, including through e-commerce. To ensure that e-commerce companies can take full advantage of this market opening, India noted the continuous efforts for facilitating investment in e-commerce. Ambassador Froman welcomed the publication of the “Advisory to State Governments/Union Territories on Model Guidelines on Direct Selling”. The United States encouraged India to consider relaxing local sourcing requirements in single brand retail trade. India mentioned recent FDI reforms providing relaxation in local sourcing norms in specific cases.

      Both countries recognized that legal, financial, information technology, and accountancy services can be assets to Indian and U.S. companies and can facilitate growth in   trade and investment. Both countries agreed to continue discussion of promoting liberalization in these sectors.

      Both countries acknowledged the successful organisation of the India-US Workshop on Traditional Medicine in March, 2016. Ongoing dialogue and cooperation in the field of Traditional Medicine was noted. Both countries took note of the progress towards signing of an MoU between the Department of AYUSH and the Department of Health and Human Services on collaboration in various aspects of traditional medicine including regulatory and capacity building.

      Both sides agreed to explore mechanisms through technical discussions to address market access issues and trade costs for pharmaceutical products and medical devices in a manner that benefits patients and provides healthcare services and products.

      The United States and India also decided to continue their engagement on visa issues, and their shared resolve to facilitate the movement of professionals, experts, and scientific personnel in to the respective countries.  The two countries acknowledged the ongoing discussions on totalisation and resolved to continue their engagement on the elements required in both countries in order to pursue a bilateral Totalisation Agreement.

      On the issue of ownership and control in the insurance sector India’s policy objective of retaining the ownership with Indian companies was explained. On the Insurance Regulation and Development Authority of India (IRDAI) exposure draft on public listing in the insurance sector, India invited the United States to offer comments on the draft guidelines relating to public listing.

      Both countries noted India’s focus on expanding higher education and training goals contained in Prime Minister Modi’s Skill India campaign and the initiative that the Skill India Mission has done to promote cooperation with foreign community colleges.  They welcomed recent plans to permit greater collaboration with foreign educational institutions.  

      Recognizing the strong digital economy in both countries, which includes robust information, communication and technology sectors as well as the broad cross-section of services and goods suppliers that benefit from digital trade, Minister Sitharaman and Ambassador Froman reiterated their commitment to the G-20 Digital Economy Development and Cooperation Initiative.  They pledged to deepen bilateral engagement in 2017 to promote the digital economy through a free and open internet, and to explore the adoption of joint principles that ensure that the Internet remains open to the free exchange of ideas, goods, and services. Both countries also agreed to further the Digital Agenda of the two sides as adopted in the India – US Information Communication and Technology (ICT) Working Group held on 27th September, 2016 in New Delhi.

      India and the United States praised the Trade Facilitation Workshop convened during October 17-18, 2016 in Delhi, welcoming the cooperation between industry and the two governments in exchanging best practices and advancing efforts to achieve full implementation of the WTO Trade Facilitation Agreement.  India and the United States discussed their efforts to increase transparency through publication, expedite the movement of goods through customs processes, reduce documentation, and improve supply chain connectivity through “single window” clearance systems that will benefit all manufacturing activities in both countries.  They looked forward to greater cooperation to promote entry into force of the WTO Agreement and third country implementation that will benefit regional trade in Asia and globally. 

      Both countries noted each other’s requests and agreed to follow up on exploring the possibility of enhanced market access in services and goods sectors.

      Intellectual Property

      Minister Sitharaman and Ambassador Froman welcomed the enhanced engagement on intellectual property rights (IPR) under the High Level Working Group on Intellectual Property, and reaffirmed their commitment to use this dialogue to continue to make concrete progress on IPR issues.  They praised the engagement on intellectual property (IP) and reviewed the results of the dialogues on copyrights, trade secrets, patents, genetic resources, traditional knowledge and the Traditional Knowledge Digital Library (TKDL), standard essential patents and IP policies that took place in 2016.  Both countries emphasized the role of robust and balanced IPR protection in fostering creativity, promoting innovation, and attracting investment, taking into account the interests of all stakeholders, including the public. Minister Sitharaman and Ambassador Froman reiterated the goal of ensuring the poorest populations in India and the United States have access to quality healthcare, and recognised the important role that trade, intellectual property and innovation policies play in enhancing access to quality health and affordable medicines for the public at large.

      Ambassador Froman welcomed India’s on-going efforts to reduce pendency and strengthen the IP regime in India through its National IPR Policy and other measures like increasing technical manpower and streamlining procedures. He praised the Government of India’s consideration of a broad range of viewpoints in drafting the National IPR Policy, and urged a transparent notice and comment process to implement and evaluate the Policy. Minister Sitharaman reiterated India’s resolve to bring down pendency in patent and trademark applications, for which various concrete steps like augmentation of technical manpower and simplification of patent procedures have already been taken. She also emphasized that the Policy is being implemented through various actionable points to foster creativity and innovation in the country.

      Recognizing the shared interest of the most robust entertainment industries in the world to promote and protect their artistic and creative content, both countries praised the intensified cooperation on copyright in 2016, including the workshop on copyright policies and implementation held in Washington in April and agreed to continue deeper engagement on copyrights, including holding a follow-on workshop in India in 2017. Ambassador Froman also welcomed DIPP’s new role in copyright administration. Minister Sitharaman reiterated the importance of the Copyright Board and expressed hope that it would be functional by the second quarter of 2017. Both countries voiced concern about the unauthorized recording, including camcording, of films in cinemas and copyright piracy on websites. India highlighted positive reforms relating to anti-camcording measures proposed in forthcoming amendments to the existing Indian Cinematograph Act. Both sides noted proactive steps initiated at the Indian state level to combat piracy.

      The Ministers also commended the trade secrets workshop convened with government officials, academics, legal experts and representatives from U.S. and Indian industry in Delhi in 2016 that facilitated the exchange of information and best practices on trade secrets protection in both countries. The United States highlighted the May 2016 ratification of the Defend Trade Secrets Act in the United States, which, along with the Economic Espionage Act, provide federal causes of action for both civil and criminal enforcement against trade secrets misappropriation. India noted that it protects trade secrets through a common law approach. Ambassador Froman and Minister Sitharaman were appreciative of the full exchange of views by participants and the identification of next steps in this regard. They reiterated their commitment to strong protection of trade secrets in their respective countries and to continue engagement on effective trade secret protection mechanisms. A toolkit would be prepared for industry, especially SMEs, to highlight applicable laws and policies that may enable them to protect their trade secrets in India. A training module for judicial academies on trade secrets may also be considered. A further study on various legal approaches to protection of trade secrets will also be undertaken by India.

      With respect to the patent regime, both sides affirmed the importance of transparency, predictability, speed, clarity and streamlining of procedures and will continue to have discussions and share best practices to promote these goals.

      Minister Sitharaman appreciated the United States for the use of the Indian Traditional Knowledge Digital Library (TKDL) in patent search examination. Both sides agreed to continue cooperation on use of TKDL.

      With respect to computer-related inventions (CRI), Minister Sitharaman noted that India has set up a Committee to re-examine the guidelines on examination of CRI patent applications, and expressed hope that a final decision would be taken soon in this regard consistent with Indian law.  

      The healthy discussions in 2016 helped provide greater transparency and deeper understanding of IPR issues in both countries, and lay the foundation for further work in 2017. Both sides reaffirmed the need to continue the exchange of best practices and information on issues being discussed, as well as other issues of interest including Geographical Indications and tradema.

      Promoting Investment in Manufacturing

      Minister Sitharaman and Ambassador Froman noted efforts that each country is undertaking to promote the ease of doing business in order to create an environment conducive to entrepreneurs and attract investment in manufacturing.  Both countries stressed the importance of providing a transparent and predictable policy environment and simplified compliances to help attract investments in manufacturing.

      The Ministers reaffirmed their commitment to exchange information on standards, Conformity Assessment procedures and the Common Criteria Recognition Arrangement (CCRA) in the electronics sector.

      India and the United States also agreed to continue their dialogue on conformity assessment based on international standard systems across various sectors by respective regulators.

      The Ministers underlined the importance of transparency and predictability in the formulation of new rules, and agreed to continue sharing best practices and information on appropriate public stakeholder consultations before framing of laws or policies, including further information on the U.S. Administrative Procedure Act.

      Both countries emphasized that the timely resolution of disputes through a strong judicial system fosters an attractive investment climate and improves the ease of doing business.  The United States welcomed India’s establishment of commercial courts, streamlining of its arbitration procedures, and its ongoing efforts for timely resolution of commercial disputes.

      Both sides agreed that creating a transparent, predictable and open business environment that reduces administrative burden and protects innovation is essential for attracting investment, promoting manufacturing activity, and providing the confidence necessary for businesses to bring new technologies across borders.  They emphasized their commitment to facilitate efforts to exchange best practices among industry and government.

      Both countries expressed their desire to implement reforms that promote the ease of doing business and attract investment in manufacturing, emphasizing the benefits of policies that facilitate open market production and sourcing decisions. 

      Both countries also took note of the recommendations by the U.S.-India CEO Forum held in August, 2016 and expressed their desire to take appropriate action on these recommendations.

      Next Steps

      In conclusion, Minister Sitharaman and Ambassador Froman expressed satisfaction with the discussions held during the tenth round of the TPF and reiterated their mutual commitment to strengthening bilateral cooperation in trade and investment.  Ambassador Froman thanked Minister Sitharaman for hosting the tenth round of the TPF in Delhi.  They proposed to convene the eleventh round of the TPF in the United States in 2017

      Topics

      ActsIncome Tax