Get set to jet set to Uncle Sam

The Times of India ^ | August 6, 2004 | PRIYA RANJAN DASH

[neutrino]

Get set to jet set to Uncle Sam
PRIYA RANJAN DASH

TIMES NEWS NETWORK[ FRIDAY, AUGUST 06, 2004 12:03:18 AM ]

NEW DELHI: India seems to have finally acquired some trade chutzpah. It is all set to offer a free trade agreement on services to the champion of free trade, the US.
 

The offer has already been discussed between prime minister Manmohan Singh and commerce minister Kamal Nath and will be brought to the cabinet shortly.

New Delhi feels the FTA deal would be a win-win for both the countries.

While American banks and insurance companies can open as many branches as they wish in India, get into travel, hospitality, telecom and other service industries, Indian companies can render unhindered services in the US to American companies.

Moreover, Indian professionals like software engineers, accountants and doctors can take up jobs in America without worrying about H1B quotas.
 

Indeed, if the deal materialises, it could open the door to the vast US market for India's large pool of service professionals, particularly in the IT and health sectors, and boost business process outsourcing from the US to India.
 

The quid pro quo would be that the US businesses would have the freedom to operate in the growing Indian market in financial services, banking, insurance, telecom and in retail trade. New Delhi would have to roll back the existing licensing and investment restrictions for US companies.

Commerce minister Kamal Nath confirmed the move towards an Indo-US FTA, exclusively for services. He told The Times of India that the India-US Joint Business Council has already done some preliminary work on the proposal. “We are working on it. If there is progress, I will take it to the Cabinet for an in-principle clearance,” he said.

The start of the bilateral FTA negotiations, however, seems unlikely before the November presidential election in the US, trade analysts said.

Thereafter, much would depend on the policies of the administration that takes charge in January next.

As of now, there is little clarity about the trade policies the US would pursue in case the Democrats win the election. John Kerry, who is seen backing the backlash against outsourcing to India, has been ambivalent about free trade.

If the US administration is lukewarm to India's suggestion, it would, however, show up the US as being double-faced on free trade issues.

So, while at best there is considerable gain for Indian companies and professionals if Washington plays ball, at worst New Delhi would be scoring a telling political point.

[Cacique]

ping

[PersonalLiberties]

"Give me the power to coin the money and I care not who controls the reins of government" Rothschild (19th cent.)

Some are looking at long term trends though, please see my post above. The future is in the #'s are far as they are concerned. Now, they need to see that those #'s have the $ to buy their stuff.

[FR_addict]

Source code stolen from U.S. software company in India
http://www.freerepublic.com/focus/f-news/1185724/posts

This is happening all the time. I know of one company that was given source code with another American company's copyright still in the source.

The CEOs are selling out their companies by cutting employees and sending the R&D jobs to India, so that they can continue to rake in the huge bonuses. This short term solution to hide poor management is going to catch up with the company, but by then the CEOs have already made their money. It's the little shareholder and the employees that are hurt, not the top insulated layer. They just retire to the golf course.

[William Terrell]

Sure looks like the free traders are using economic tools to de facto erase national borders and move us to world rule.

The extraterrestrials won't contact us if we don't have a global government, you know!

[William Terrell]

Where does government plan to get its revenue? Income tax revenue is already on the downward slope and will drop more steeply as wages continue to be depressed below the taxable level.

We've had a national retail sales tax waiting in the wings for . . for just such an emergency, as Foghorn Leghorn would phrase it. That'll pretty much erase all the low price off those Chinese products. Won't be many "hidden taxes" to subtract from the price for those babies!

Since the current NRST provides for the government to dole out minimum survival reimbursement monthly at officially calculated poverty levels for family units that regularly file affidavit paperwork each month (or quarter), our welfare state can grow and become lush.

Many, if not most, will face either A) constantly testifying as to the makeup of the present family by affidavit and receiving a dole, B) affording to purchase only necessities or C) not eat.

But, hey! We'll be "free" of the IRS, doncha know!

[jpsb]

Let's see we have already given all our low skilled and a great deal of our journeyman jobs to Mexicans so now we are going to give most of the middle class jobs to Indians. All so the super rich can play in India's financial sector? Hey, this sounds like a great deal for the super rich, so I am certain our leaders will make it happen.

If anyone still has any doubt that the USA is totally controlled by the elite super rich, this atricle should end them.

[lelio]

There is no America at least as far as multinational corps think.

There is ... when it comes time to needing a forum to defend their own intellectual property from pirates.

[PersonalLiberties]

Re: intellectual property

China seems to have taken the term free trade to an extreme," said DeFazio. "Not only are successful small U.S. businesses like Videx being ripped off by Chinese companies, but corporate giants like General Motors have seen their products counterfeited, with no reprimand from the Chinese government or world governing bodies.
"The Bush administration's response to my first letter was inadequate. Small businesses like Videx, don't have the same resources that large corporations do to pursue a solution through the courts or administrative agencies in China, as the Bush administration suggests. I am asking the administration to take real action to stop Chinese counterfeiting and protect American companies and American jobs in two ways- through the WTO or under Section 301 of the Trade Act of 1974."

http://defazio.house.gov/033104TRRelease.shtml

This is from a Rep. in Oregon. The WTO deals with IP issues as well. For some interesting reading see how the WTO makes up its rulings.