India-U.S. economic and trade relations

著者

    • Martin, Michael F.
    • Kronstadt, K. Alan

書誌事項

India-U.S. economic and trade relations

Michael F. Martin and K. Alan Kronstadt

Novinka Books, c2008

  • : softcover

タイトル別名

India US economic and trade relations

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注記

Includes bibliographical references (p. 73-84)

内容説明・目次

内容説明

After decades of strained political relations, the U.S. and Indian governments are currently pursuing a 'strategic partnership' based on numerous overlapping interests, shared values, and improved economic and trade relations. India is in the midst of a rapid economic expansion, and many U.S. companies view India as a lucrative market and a candidate for foreign investment. For its part, the current Indian government sees itself continuing the economic reforms started in 1991, aimed at transforming a quasi-socialist economy into a more open, market-oriented economy. However, the U.S. government is concerned that India's economic reforms are progressing too slowly and unevenly. Bilateral merchandise trade has grown from $6 billion in 1990 to $33 billion in 2006. Although India was only the 21st largest export market for the United States in 2006, the United States has become India's leading trading partner, mostly due to the growth in India's exports to the United States. However, recent increases in trade with China have made it a close second to the United States. In 2006, the U.S. bilateral trade deficit with India totalled $13 billion. In 2006, India's gross domestic product (GDP) grew by 9.2 per cent, a growth rate second only to China among Asian nations. India's economic growth has also brought about the emergence of a sizeable 'middle class' and the largest number of billionaires in Asia, but the country's mostly rural population remains comparatively poor and largely isolated from the benefits of growth. In addition, there is growing concern that the economy is 'overheated', as evidenced by rising rates of inflation. Moreover, despite several years of strong growth, investment in infrastructure is lagging, creating a potential bottleneck for long-term economic expansion. Finally, attempts at additional economic reforms aimed at resolving these and other economic problems are constrained by India's political dynamics. Despite the significant liberalization of India's trade and foreign investment policies, there remain a number of bilateral and multilateral trade issues between the United States and India. The United States seeks greater market access to India's agricultural market and key service sectors for its exports and for foreign direct investment. The United States is also concerned about 'outsourcing', and would also like to see improvements in India's intellectual property rights protection. India, for its part, calls for the lowering of perceived U.S. barriers to agricultural and service imports, as well as an expansion of the H-1B visa program. Many of the more prominent Indo-U.S. trade issues may have indirect implications for Congress. The growth of India's services exports to the United States has contributed to congressional consideration of possible legislation to provide greater assistance to displaced U.S. workers. Also, India's growing demand for crude oil has raised the possibility of boosting bilateral energy co-operation. Finally, the passage of the Hyde Act in 2006 (PL 109-401) has led to the negotiations of a bilateral peaceful nuclear co-operation ('123') agreement, which cannot go into effect without congressional approval.

目次

  • Preface
  • Introduction
  • India's Political & Economic Climate
  • Overview
  • Brief Political Economic History of India
  • Current Political Climate for Economic Reform
  • Key Political Figures & Institutions
  • Major Political Parties & Coalitions
  • The UPA & the Indian National Congress
  • The NDA & the Bharatiya Janata Party
  • The Left Front & the CPI-M
  • Regional Factors & Variations
  • The West
  • The North
  • The South
  • The East
  • Maoist Insurgency
  • India's Current Economic Condition
  • Sectoral Shift to Services
  • Declining Poverty, Emerging Middle Class
  • Rapid Growth in Trade
  • Balance of Trade
  • Top Merchandise Exports
  • Top Merchandise Imports
  • Trade in Services
  • Risk of Overheating?
  • India's Current Economic & Trade Policies
  • Economic Policies of the UPA Government
  • UPA Budgets
  • Privatisation
  • Labour Reforms
  • Infrastructural Development
  • Special Economic Zones
  • India's Trade Policies
  • Tariff Rates & Enforcement
  • Import Restrictions
  • U.S. Trade Barrier Assessment
  • India-U.S. Economic & Trade Relations
  • Trends in Merchandise Trade
  • India's Merchandise Trade with the United States
  • U.S. Merchandise Trade with India
  • Top Traded Commodities
  • Emerging Competition from China
  • Trade in Services
  • Foreign Direct Investment
  • Bilateral & Multilateral Trade Relations
  • Bilateral Agreements & Relations
  • World Trade Organization & Other Multilateral Relations
  • Key Economic & Trade Issues
  • Agricultural Goods
  • Clothing & Textiles
  • Dual-Use Technology & Military Trade
  • Foreign Direct Investment
  • Intellectual Property Rights
  • Jewellery
  • Oil
  • Trade in Information Technology & Other Services
  • H-1B Visas
  • Implications for the 110th Congress
  • Energy Co-operation
  • Immigration
  • The Farm Bill
  • Foreign Direct Investment
  • Outsourcing & Displaced Workers
  • Index.

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