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US to host US-India trade policy forum

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US Secretary of Defence Chuck Hagel looks on as he attends an Observer Research Foundation conference in New Delhi on August 9, 2014. US Defense Secretary Chuck Hagel met India's prime minister in Delhi, seeking to boost weapons sales to a new government eager to modernise its military. India is the world's biggest arms importer and military trade is high on the agenda for the three-day trip, which comes ahead of Prime Minister Narendra Modi's first official visit to Washington next month. AFP PHOTO/RAVEENDRAN

Washington: US Trade Representative Michael Froman will host the ninth ministerial-level meeting of the US-India Trade Policy Forum (TPF) here on Oct 29 to discuss how to expand trade and investment through forward-looking policy initiatives.

The TPF provides the venue for evaluating progress that has been made on trade and investment issues between the US and India at the ministerial level, according to an official announcement.

“I look forward to hosting Minister Nirmala Sitharaman for a productive meeting about bringing our countries into greater trade partnership,” said Froman.

This dialogue comes on the heels of President Barack Obama’s recent meeting with Prime Minister Narendra Modi “where they discussed how partnership between the United States and India on trade and investment can contribute to new economic growth and job creation opportunities for our peoples,” he noted.

“The US-India Trade Policy Forum will allow the United States and India to advance on-going bilateral efforts to expand trade and investment through forward-looking policy initiatives that can benefit our manufacturers, workers, innovators, service providers, farmers, and ranchers,” Froman said.

The US-India TPF is co-chaired by USTR Michael Froman and Indian Minister of Commerce and Industry Nirmala Sitharaman, and is the premier bilateral forum for the discussion and resolution of trade and investment issues between the US and India.

Discussions in the TPF are generally organized around key issue areas, including intellectual property, opening investment in manufacturing, agriculture, and services.

US goods and private services trade with India totalled $102.8 billion in 2014. India is currently the US’ 11th largest goods trading partner with $66.8 billion in total (two ways) goods trade during 2014. Trade in private services with India (exports and imports) totalled $36 billion in 2014.

(IANS)

 

 

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For the first time, 874 Women will join the Military Police: Indian Army sanctions

Each year 52 new women jawans will be included in Military Police

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Indian Army sanctioned that 874 Women will join the Military Police
Indian Army sanctioned that 874 Women will join the Military Police. Wikimedia

New Delhi, India, September 9, 2017: Opening more doors of opportunity for women in the force, the Indian Army has inducted 874 women in Corps of Military Police.

It’s another cause of celebration for womenfolk as on 7th September India saw Nirmala Sitharaman become the first full-time woman Defence Minister.  This is a praise worthy move taken in the direction of promoting the entry of more women in the armed forces.

The major decision has been taken by the Indian Army to include 874 women jawans in Military Police. Not only this, each year 52 new women jawans will be included in Military Police.

Also Read: Dubai-based Indian Painter Akbar Saheb to draw a Masterpiece in Tribute to the Indian Army

As per an Army briefing on 8th September, the Adjutant General of Army Lt. General Ashwani Kumar said that a need for inclusion of women personnel was felt because of investigation of the cases dealing with gender-based allegations and crime. It felt like an important step to include women corps in the Military Police.

To join the military police, women will have to go through the training period of 62 weeks, the same duration is required for training of male soldiers. The process of including w the men in the military police will get started from 2018 as its modes are being worked out.

Additionally, Lt. Gen. Ashwani Kumar also talked about the established of 2 new state of the art centres in Guwahati and Bhopal, so that the childless couple need not have to unduly wait for their turn. These centres are established in addition to the existing ones which are in Delhi, Pune and Mumbai.


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Key Pointers before investing in Plots of Land

Apart from constructing a house, a plot of land is a great investment

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Land Plots (Representational Image), Pixabay

March 10, 2017: Building a home from brick to brick and having the sovereign choice of the floor plan is a dream that many of us harbor but only a few accomplish.

Apart from constructing a house, a plot of land is a great investment. There are many who like to invest in land instead of a flat and argue that buying a flat is high maintenance and does not give good returns on investments when compared to a plot for sale in Chennai.

It is generally the second home buyer or investor who invests in land or a plot for sale in Chennai or any other flourishing city. Investment in both land and apartment has its own merits and demerits.

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The few important merits of investing in a plot of land are:

  1. There is a lot of freedom to design and shape a plot, which is not possible in an apartment.
  2. With space availability vanishing quickly in the city, the rate of land is expected to appreciate very quickly.
  3. Flexibility to build as per the city’s future requirement helps the cost of land and property to appreciate very fast.
  4. The land is always in demand. The value normally appreciates due to zero depreciation of land.
  5. There is little or no competition for raw land, so being the only prospective purchaser is a huge negotiating advantage.

But, there are some demerits to investing in a plot.

  1. Land generates very low income if rented sometimes. It is difficult to reoccupy a land if tenant pushes it into litigation.
  2. Banks do not provide finance for buying a land/plot.
  3. It is essential to make legal checks on ownership history.

The key to a good investment is research and complete knowledge about the investment. Some of the things to keep in mind before buying a property are:

  1. Clear land title with no outstanding loans, taxes or mortgages must also be investigated. A buyer must ensure that the land parcel is not reserved for any government projects and does not belong to the agricultural category.
  2. Investigation on infrastructural development around the area should be made. Inquire availability of proper roads and Infrastructure in the area, also amenities within the projects and other developments coming up around the property needs to be researched.
  3. Landlocked properties or oddly shaped properties should be avoided. Required building setbacks could make a narrow plot worthless.

In the recent times, the southern state of Chennai has emerged as one of the top destinations for investing in land/ plot. Chennai is more appealing than other metros of the country, as it is a rapidly expanding manufacturing hub of India.

The state houses manufacturing units of top carmakers, as well as, other industries like IT industries, Telecom, etc. All these establishments are creating a big investment opportunity in the city with high growth and shooting prices.

The ideal destinations for investment in the city include:

  1. Gandhi Salai and Oragadam: They are the hubs of activities for the IT and manufacturing sectors. While Rajiv Gandhi Salai is an attractive choice due to its proximity to the various IT Parks and IT-SEZs, plots near Oragadam are ideal for investment, as it is an automobile hub. These locations are well connected by road and rail, and the presence of various multinational companies has triggered the real estate growth.
  2. Vandalur-Kelambakkam Road is one of the future growth corridors of the city, as it connects two important arterial roads Grand Southern Trunk Road (GST) with Rajiv Gandhi Salai. Easy connectivity and presence of many educational institutions in the vicinity have positively impacted the real estate sector in this area.

The land prices in these areas range between INR 500-2,500 per sq ft. The buyers have a variety of options to choose what can fit their budget.

In a city whose demographic is changing constantly with apartments becoming the norm rather than the exception, a plot as a mode of investment is becoming highly lucrative. The severe space crunch in the city has resulted in land prices going through the roof, sending plot developers and buyers scout for land on the outskirts. It has resulted in a spurt of real estate development in these localities.

 

 

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Korea is Emerging as an Important Economic Partner for India

Fast growing economic relations between Korea and India

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economic
Representational Image, Source-pixabay

Feb 28, 2017: When India liberalized in 1990s, international companies were reluctant to invest in India. Korea was the first country which dared to invest in India when other countries were reluctant to take the economic risk of investing in the 1990s. Korea subsequently became the 4th largest investor during the 1990s.

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Bilateral economic relation between India and Korea is important for both India and Korea, Korea’s Trade Minister Joo Hyung-hwan had said last year, “Fostering close economic ties with India is the top priority for Korea.” Further, the Federation of Korean Industries (FKI) had said last September,  “Korea needs to deepen economic ties with India and Vietnam for its economic growth,” reported Korea Times

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Economic relations with India is important for Korea as its relation with its 3 important trading partners- US, Japan and China is declining. Relations with US are fast declining due to America’s policy of protectionism and the new policies of Trump. Historical issues with Japan and Japan’s economic stagnation, as well as Korea’s decision to deploy US missile system, has soured Korea’s relation with both these two countries, hence relations with all 3 countries have become precarious.

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In January last year, a Memorandum of Understanding (MoU) was signed between the India and Korea for establishing the platform “Korea Plus” a joint initiative of Ministry of Commerce and Industries of both countries, a platform established to promote and facilitate Korean investments.

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Few of the Korean startups are also doing business with Indian companies. Bangalore based real estate portal NoBroker had announced that it has raised $7 million (Rs 50 crore) in one round led by KTB Network, a Seoul-based VC firm in December last year. Softbank of South Korea had had led one round of funding for the Gurgaon-based True Balance, the CEO of True balance is Cheolwon (Charlie) Lee, a Korean.

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Prepared by Upama Bhattacharya. Twitter @Upama_myself