Latest news with #IndiaNarrative
India.com
18 hours ago
- Business
- India.com
US President Trump's Call To Stop Hiring Foreign Techies Could Be Blessing In Disguise For India
New Delhi: US President Donald Trump's recent call for American tech giants to stop hiring foreign workers presents India with a rare opening to leap from the world's outsourced back office to the commanding heights of global technology leadership. India's government is already moving decisively. The IndiaAI Mission, launched in 2024, focuses specifically on homegrown solutions in agriculture, healthcare, and language models - sectors crucial to India's unique context and massive population. AI models like Sarvam-1, designed for India's languages, showcase ambition beyond mere adaptation of Western technologies. Boosting compute infrastructure, investing in research, and ramping up support for startups mean the technological engines are being primed for a historic shift, according to an article in India Narrative. It highlights the G20 Task Force report as saying that "India's digital infrastructure, powered by Aadhaar and UPI, already sets a world benchmark. It highlights how scaled digital platforms - built to solve Indian problems - now underpin everything from banking to vaccination logistics. The Aadhaar identity network, 5G rollouts, and financial inclusion have created fertile ground for innovation in domains neglected by Western tech giants. Trump's hiring ultimatum, though disruptive, could provide the nudge India needs to prioritise self-reliance over outsourcing. Building indigenous AI models for agriculture can revolutionise food security and climate adaptation - where over 46 per cent of India's workforce still depends on farming, often under stress from erratic weather and low yield. In healthcare, AI can bridge gaps in diagnostics for rural populations, bringing life-saving solutions where expertise is scarce, the article observes. With its vast digital user base - over 900 million internet connections - and advances in payment technology, India sets an example in scalable public infrastructure. UPI, Aadhaar, and ONDC are not just domestic marvels but international blueprints, now being adopted around the world. Indian SaaS and fintech unicorns, fueled by local know-how, are fast becoming global leaders, with exports topping $200b annually. For decades, US tech companies have relied on Indian engineers for cost-effective, high-quality talent, funnelling graduates from India's premier institutions into roles in California, Washington, and New York. H-1B visas and offshore campuses created a pipeline that shaped careers and fuelled India's software boom. But as Trump's rhetoric pivots American tech toward economic nationalism, Indian professionals face barriers once unthinkable—roles vanishing and dreams deferred. However, dependency on Western opportunity has long restricted India's tech ecosystem from full self-expression. Trump's stance removes the glass ceiling. Indian engineers—1.5 million graduating every year—are now primed to build for India, not just the West. Instead of exporting raw talent, the country can nurture founders, inventors, and creators who tackle Indian problems first. It is a wake-up call to invest in domestic innovation and entrepreneurship, the article further states.
Time of India
a day ago
- Business
- Time of India
India-Oman free trade pact to open new economic gateway with Gulf
New Delhi: India and Oman are poised to sign a Comprehensive Economic Partnership Agreement (CEPA) covering goods, services, investments, and labour mobility with a formal announcement expected this month. The India-Oman CEPA is more than a tariff deal as it will open up a strategic economic bridge between South Asia and the Gulf. It offers India tariff-free access to a receptive market, secures energy and labour interests, attracts Gulf investment , and deepens geopolitical engagement in a region critical to global trade and security, according to an article in India Narrative. The free trade agreement (FTA) will reduce or remove customs duties on a wide range of products traded between India and Oman. The 5 per cent customs duty on Indian exports such as iron and steel, electronics, textiles, plastics, automotive components, and machinery will be reduced to zero which will make these commodities more competitive. These sectors align closely with Make in India goals, offering scale expansion opportunities and job creation at home. For small and medium enterprises (SMEs), tariff-free access can open lucrative Gulf markets without the pricing disadvantage they previously faced. The CEPA is also expected to encourage Omani and broader Gulf capital inflows into Indian strategic infrastructure projects - ports, industrial corridors, and logistics hubs. India, in turn, can participate in Omani ventures such as the Duqm Port, enhancing maritime connectivity. A sensitive point in talks was Oman's "Omanisation" policy, which mandates private companies to hire a minimum quota of Omani nationals. India pushed for explicit carve-outs to safeguard its large expatriate workforce - over 480,000 Indians - ensuring they are not disproportionately affected by future policy shifts. Oman is a reliable supplier of crude oil, LNG, and fertilisers. Tariff reductions on these imports will lower input costs for Indian refiners, power producers, and farmers. This adds stability to India's energy security strategy, reducing exposure to price shocks and supply disruptions. Oman's location near the Strait of Hormuz, through which 20 per cent of global oil shipments transit, is of immense global strategic importance. Stronger trade and investment ties deepen trust and open doors for defence cooperation, maritime security initiatives, and coordinated infrastructure projects. India's CEPA with Oman would strengthen the country's position as a preferred partner in the Gulf, where China is expanding its economic influence. --IANS sps/svn
Hans India
a day ago
- Business
- Hans India
India-Oman free trade pact to open new economic gateway with Gulf
India and Oman are poised to sign a Comprehensive Economic Partnership Agreement (CEPA) covering goods, services, investments, and labour mobility with a formal announcement expected this month. The India-Oman CEPA is more than a tariff deal as it will open up a strategic economic bridge between South Asia and the Gulf. It offers India tariff-free access to a receptive market, secures energy and labour interests, attracts Gulf investment, and deepens geopolitical engagement in a region critical to global trade and security, according to an article in India Narrative. The free trade agreement (FTA) will reduce or remove customs duties on a wide range of products traded between India and Oman. The 5 per cent customs duty on Indian exports such as iron and steel, electronics, textiles, plastics, automotive components, and machinery will be reduced to zero which will make these commodities more competitive. These sectors align closely with Make in India goals, offering scale expansion opportunities and job creation at home. For small and medium enterprises (SMEs), tariff-free access can open lucrative Gulf markets without the pricing disadvantage they previously faced. The CEPA is also expected to encourage Omani and broader Gulf capital inflows into Indian strategic infrastructure projects - ports, industrial corridors, and logistics hubs. India, in turn, can participate in Omani ventures such as the Duqm Port, enhancing maritime connectivity. A sensitive point in talks was Oman's 'Omanisation' policy, which mandates private companies to hire a minimum quota of Omani nationals. India pushed for explicit carve-outs to safeguard its large expatriate workforce - over 480,000 Indians - ensuring they are not disproportionately affected by future policy shifts. Oman is a reliable supplier of crude oil, LNG, and fertilisers. Tariff reductions on these imports will lower input costs for Indian refiners, power producers, and farmers. This adds stability to India's energy security strategy, reducing exposure to price shocks and supply disruptions. Oman's location near the Strait of Hormuz, through which 20 per cent of global oil shipments transit, is of immense global strategic importance. Stronger trade and investment ties deepen trust and open doors for defence cooperation, maritime security initiatives, and coordinated infrastructure projects. India's CEPA with Oman would strengthen the country's position as a preferred partner in the Gulf, where China is expanding its economic influence.
Hans India
3 days ago
- Business
- Hans India
Trump's India policy strains 20 yrs of US-India ties: Report
Washington: US President Donald Trump's policy towards India, particularly the imposition of a 50 per cent tariff on Indian goods in response to New Delhi's ongoing imports of Russian crude oil while showing leniency to China, has strained the bilateral relationship that was carefully cultivated over past two decades through bipartisan effort, a report cited on Thursday. With Russian oil contributing to nearly one-third of India's imports, the India Narrative report stated that New Delhi has made it clear that it won't let the energy needs of 1.4 billion people be dictated by Washington's 'coercive diplomacy'. The Ministry of External Affairs (MEA) minced no words, calling out US duplicity and exposing the West's continued trade with Russia. India's message was clear: it will chart its own path, not as a subordinate ally but as an autonomous power. Trump's aggressive tariff strategy, now his go-to playbook for forcing negotiations, has met a red line, the report mentioned. 'The US, having quietly accepted China's continued energy dealings with Russia, has decided to single out India for punitive action. This selective outrage has not gone unnoticed in the South Block,' it stated. For years, the US described India as a 'strategic partner', and many believed that the shared economic growth and India's vital role in the Indo-Pacific region would shield it from the hardline approach that Trump adopted with other countries. However, the report mentioned, the illusion finally shattered when Trump slapped a cumulative 50 per cent tariff on Indian goods and threatened secondary sanctions on India's energy sector, pressuring New Delhi to stop buying Russian crude oil, while the US and European Union engaged in trade relations with Moscow.
