Some Key Facts on U.S.-India Trade
Posted by scapozzola on 11/08/2010
- India has a steel policy to promote its industry, as well as a $60 billion call/service center industry built on outsourcing.
- The U.S. goods trade deficit with India in 2010 will be more than double the $4.7 billion deficit in 2009. Through August, 2010, the U.S. trade deficit with India had already reached $7.0 billion.
- Big U.S. companies are investing in India instead of the U.S.:
- Motorola performs 40% of its software development in India.
- GM has 2 research labs in India. Pfizer has outsourced significant drug development to India.
- Microsoft employs more than 4000 workers in India, and its largest development center outside of the U.S. is in India.
- Intel has 2500 R&D workers in India, with more than $1 billion in additional planned investments.
- According the 2010 National Trade Estimate by the Office of the U.S. Trade Representative, regarding U.S. trade with India:
- "U.S. exporters continue to encounter tariff and nontariff barriers that impede imports of U.S. products."
- Regarding intellectual property rights, "India was listed on the Priority Watch List in the 2009 Special 301 report."
- "IIndia maintains restrictions on the export of certain high-grade iron ore. These restrictions reduce Indian exports of these inputs, and may reduce supplies on international markets for raw materials used in steel production. The Indian government appears to be using these measures to improve the availability and lower prices of inputs used by India's rapidly growing steel industry."
Said Alliance for American Manufacturing (AAM) Executive Director Scott Paul: "India is to American office parks as China is to American factories. Unless we change course, we're going to see higher trade deficits, more job loss, and deeper frictions, despite periodic announcements about one-off business deals."
Add a comment
Related recent Blogs
- Washington State Bridge Collapse Illustrates Perils of Failing Infrastructure. • by scapozzola • 05/24/2013
- Reps. Daniel Lipinski (D-IL) and Michael Grimm (R-NY) form new Congressional Public Transportation Caucus. • by scapozzola • 05/23/2013
- Homeland Security and Gov. Tom Ridge • by scapozzola • 05/23/2013
- CNBC: Is a Chinese construction firm benefiting from its Beijing connection? • by scapozzola • 05/23/2013
- VIDEO: Concerns about America's defense industrial base • by scapozzola • 05/22/2013
- CNBC: China investing in U.S. • by scapozzola • 05/22/2013
- In Indiana, ongoing concerns about subsidized auto parts from China and Japan • by scapozzola • 05/22/2013
- RADIO: AAM's Scott Paul on Leslie Marshall Radio Show, May 20, 2013 • by scapozzola • 05/21/2013
- Shoring up our security means addressing the China challenge • by mmcmullan • 05/20/2013
- Quote of the Day from Caterpillar's Doug Oberhelman • by LDonia • 05/20/2013