Posts tagged ‘Barack Obama’

14/02/2015

PM Modi sending top diplomat to Pakistan in thawing of ties | Reuters

Prime Minister Narendra Modi is sending his top diplomat to Pakistan as part of a regional tour, the first top-ranking visit since Modi broke off talks last year over the disputed region of Kashmir.

Prime Minister Narendra Modi (L) talks to his Pakistani counterpart Nawaz Sharif (R) during the closing session of 18th South Asian Association for Regional Cooperation (SAARC) summit in Kathmandu November 27, 2014.  REUTERS/Niranjan Shrestha/Pool/Files

The sign of a thaw in ties comes weeks after a visit to India by U.S. President Barack Obama.

The United States has long privately encouraged dialogue between India and Pakistan hoping that better ties between the nuclear-armed neighbours could lead to cooperation in other areas such as Afghanistan.

Modi called his Pakistani counterpart, Nawaz Sharif, early on Friday to wish his country luck in the World Cup cricket tournament beginning this weekend and to tell him that new Foreign Secretary Subrahmanyan Jaishankar will soon visit Islamabad as well as other regional capitals.

Sharif told Modi he welcomed the proposed visit of the Indian envoy to discuss all issues of common interest, the Pakistani foreign office said in a statement.

In Washington, the U.S. State Department welcomed the move.

via PM Modi sending top diplomat to Pakistan in thawing of ties | Reuters.

12/02/2015

Racing the elephant against the dragon | The Economist

IN 1991 India’s finance minister presented a budget to India’s parliament that would change the economic history of his country. His reforms dispensed with mounds of the red tape that reined in Indian growth, and opened up many industries to foreign capital. But India was a late-comer to the liberalisation game; China had been opening its economy since the 1970s and accelerated its efforts in the 1990s. China’s reforms have been the more successful; except for a brief period in 1999, the Chinese economy has consistently outperformed its smaller neighbour. But that picture may soon reverse.

Official statistics published on February 9th revealed that India’s GDP rose by 7.5% in 2014, a shade faster than China’s over the same period. Later this month Narendra Modi, India’s prime minister, is likely to push new reforms. India also enjoys a demographic advantage. Whereas China’s workforce began to shrink in 2012, more than half of India’s current population is younger than 25. India, rather than China, may henceforth be the symbol of rapid emerging-market growth.

via Daily chart: Racing the elephant against the dragon | The Economist.

06/02/2015

Companies set to back huge India solar expansion | Reuters

India could start installing 20,000 megawatts of solar power capacity as early as April after companies pledged to support the government’s drive for clean energy, an official told Reuters.

A worker cleans photovoltaic solar panels inside a solar power plant at Raisan village near Gandhinagar, in Gujarat, February 11, 2014. REUTERS/Amit Dave/Files

Details of the plan, which has drawn commitments from U.S., German and Chinese companies, will be announced on Friday, said Upendra Tripathy, secretary of the Ministry of New and Renewable Energy.

“We have got commitments from very established industry, both foreign and domestic for next year,” he said in an interview at his office.

Foreign companies will be allowed to decide where they manufacture the required equipment, he said.

via Companies set to back huge India solar expansion | Reuters.

31/01/2015

Panasonic withdraws from TV production in China: source | Reuters

As we said with the reduction of workforce at Foxconn, this could be the beginning of the end to off-shored manufacturing.  Time will tell if we’re right or not.

Panasonic Corp (6752.T) has stopped making TVs in China and plans to liquidate its joint venture in Shandong, a company source said on Saturday, the latest in a string of Japanese electronics companies exiting overseas TV markets amid strong pricing pressure.

Exhibitors prepare the Panasonic exhibit space ahead of the International Consumer Electronics show (CES) in Las Vegas, Nevada January 5, 2015. The show officially opens on January 6. REUTERS/Rick Wilking (UNITED STATES - Tags: BUSINESS SCIENCE TECHNOLOGY)

The source, who did not want to be identified because the move had not yet been announced to the roughly 300 workers at the Shangdong plant, said Panasonic ended production there on Friday.

The Nikkei earlier reported that Panasonic would withdraw from TV production in China and Mexico. The report said the company was expected to sell the Mexican plant, which has produced about 500,000 units a year, most of which were shipped to the United States.

Reuters could not confirm the company’s plans to exit Mexico. It currently has two plants in that country, part of the company’s nine TV manufacturing plants, excluding Shangdong.

A fierce price war has made the global TV market unprofitable for many Japanese electronics makers. Panasonic said in late October it was transferring its unprofitable Sanyo television unit in the U.S., which supplies sets to Wal-Mart Stores, to Funai Electric (6839.T) in return for royalties.

Toshiba Corp (6502.T) said on Thursday that it would stop making and selling TVs in North America and was considering similar exits from other countries.

Sharp Corp (6753.T) has licensed its TV brand in Europe to Universal Media Corp Slovakia as part of an effort to trim costs and pull back from loss-making operations. Sony Corp (6758.T) has spun off its struggling TV business into a separate entity, although CEO Kazuo Hirai has said the company does not plan to sell or shut down the unit.”

via Panasonic withdraws from TV production in China: source | Reuters.

29/01/2015

India’s Vodafone decision eases tax worries for Shell, others | Reuters

This action demonstrates the new pro-business attitude of Modi’s government.

“India’s decision to drop a tax dispute with Vodafone Group Plc(VOD.L) is likely to mean relief for Royal Dutch Shell PLC(RDSa.L) and others caught in similar, protracted battles, as the government tries to attract much-needed foreign investment.

A Shell logo is seen at a petrol station in London January 31, 2013. REUTERS/Luke MacGregor/Files

India’s image as an investment destination has been tarnished by a reputation for red tape, unpredictable rules and a tax office long seen as over zealous in its pursuit of foreign firms. Prime Minister Narendra Modi‘s government, seeking to reboot a slowing economy, has sought to change that.

Late on Wednesday, the government said it would not appeal a Bombay High Court ruling in favour of Vodafone, the biggest foreign investor in India.

“It’s a departure from the past when all the high-value tax cases were always litigated,” said Himanshu Shekar Sinha, a partner at law firm Trilegal.

“With this, the government has sent a clear direction that appeals should not be filed routinely.”

Tax lawyers said they expected cases such as those involving IBM (IBM.N), Nokia Oyj (NOK1V.HE), Microsoft Corp (MSFT.O) and others could now be resolved instead through negotiation.”

via India’s Vodafone decision eases tax worries for Shell, others | Reuters.

27/01/2015

Obama ends day of Indian pageantry with $4 billion pledge | Reuters

U.S. President Barack Obama ended a landmark day in India on Monday with a pledge of $4 billion in investments and loans, seeking to release what he called the “untapped potential” of a business and strategic partnership between the world’s largest democracies.

Honeywell CEO Dave Cote (L) and India's Prime Minister Narendra Modi (C) laugh at a remark by U.S. President Barack Obama (R) during a CEO Roundtable and Forum at the India U.S. Business Summit in New Delhi January 26, 2015. REUTERS-Jim Bourg

Earlier in the day, at the invitation of Prime Minister Narendra Modi, Obama was the first U.S. president to attend India’s annual Republic Day parade, a show of military might that has been associated with Cold War anti-Americanism.

It rained as troops, tanks and cultural floats filed through the heart of New Delhi, but excitement nevertheless ran high over Obama’s visit, which began on Sunday with a clutch of deals to unlock billions of dollars in nuclear trade and to deepen defence ties.

Both sides hope to build enough momentum to forge a relationship that will help balance China’s rise by catapulting democratic India into the league of major world powers.

The leaders talked on first name terms, recorded a radio programme together and spent hours speaking at different events, but despite the bonhomie, Obama and Modi reminded business leaders, including the head of PepsiCo, that trade ties were still fragile.

India accounts for only 2 percent of U.S. imports and one percent of its exports, Obama said. While annual bilateral trade had reached $100 billion, that is less than a fifth of U.S. trade with China.

via Obama ends day of Indian pageantry with $4 billion pledge | Reuters.

26/01/2015

Five firsts at Republic Day 2015 – The Hindu

The 66th Republic Day saw many firsts. Here are a few:

1. All-women contingents of the Army, Navy and Air Force march through Rajpath for the first time

The Army contingent, led by Captain Divya Ajith from Chennai, wants to serve in combat roles. “We believe we are equal and second to none. We have already marched for the first time on the Army Day and now another first would be the Republic Day parade. So, yes, we do wish to be in the combat force,” she said.

2. The first time that a U.S. President is Chief Guest for the parade

“This Republic Day, we hope to have a friend over…invited President Obama to be the 1st US President to grace the occasion as Chief Guest,” Narendra Modi tweeted in November last year.

3. The President and the chief guest arrived in different motorcades, a departure from the standard practice of arriving together

4. CRPF shows off Commando Battalion for Resolute Action (CoBRA) used in anti-Naxal operations

5. The long-range advanced MiG-29K fighter jet on display

via Five firsts at Republic Day 2015 – The Hindu.

26/01/2015

Narendra Modi’s Suit and Its Message to Obama – India Real Time – WSJ

Even the pinstripes on Indian Prime Minister Narendra Modi’s suit cannot escape scrutiny.

The yellow, almost-gold, stripes that appear against the navy blue wool fitted Indian jacket and pants he wore on Sunday were not simple stitching. They were Mr. Modi’s name embroidered into the fabric, said a person familiar with Mr. Modi’s wardrobe.

Over and over again the lines repeated the words: “Narendra Damodardas Modi.” His middle name is his father’s first name: Damodardas Mulchand, a tea seller.

Mr. Modi, wore the pinstriped suit to receive U.S. President Barack Obama at the Indian presidential palace on Sunday. Mr. Obama is on an official three-day visit to India.

He landed in the capital New Delhi on Sunday morning where he was greeted by Mr. Modi in a break with protocol. The pair also hugged.

Mr. Modi, who changed his outfit three times on Sunday, started with a cream colored shirt paired with a saffron shawl for the airport visit. He then changed into that pinstriped fitted Indian jacket with his name all over it for a luncheon he hosted in Mr. Obama’s honor at Hyderabad house. After lunch the pair walked in the garden and were photographed drinking tea together.

Later that evening, Mr. Modi donned a dove-grey fitted Indian jacket for a state banquet at Rashtrapati Bhavan, the president’s palace.

For the Republic Day parade on Monday Mr. Modi paired a black fitted jacket with an elaborate turban, a nod to his Gujarati heritage. The red, green and orange hand-tied turban, speckled with white dots, is a a tie-dye technique called Bandhani that is practiced mostly in the western Indian states of Rajasthan and Gujarat. Mr. Modi was the chief minister of Gujarat for more than a decade.

But the Obama visit’s wardrobe will probably be best-remembered for those stripes on Mr. Modi’s second outfit. They started a social media outrage especially on Twitter where some users described Mr. Modi as a narcissist for choosing to wear his name all over his jacket.

via Narendra Modi’s Suit and Its Message to Obama – India Real Time – WSJ.

26/01/2015

Rain on India’s parade, but Obama visit keeps spirits high | Reuters

U.S. President Barack Obama watched a dazzling parade of India’s military might and cultural diversity on Monday, the second day of a visit trumpeted as a chance to establish a robust strategic partnership between the world’s two largest democracies.

Photo

It rained on the parade through the heart of New Delhi, but excitement nevertheless ran high over Obama’s landmark visit, which began on Sunday with a clutch of deals and ‘bromance’ bonding with Prime Minister Narendra Modi.

The two leaders announced plans to unlock billions of dollars in nuclear trade and to deepen defence ties.

Most significant was an agreement on two issues that, despite a groundbreaking 2006 pact, had stopped U.S. companies from setting up nuclear reactors in India and had become one of the major irritants in bilateral relations.

“Mobama breaks N-deadlock,” the Mail Today newspaper said on its front page, which carried a photograph of Modi and Obama hugging each other warmly.

The bonhomie was a remarkable spectacle, given that a year ago Modi was persona non grata in Washington and was banned from visiting the United States for nearly a decade after deadly Hindu-Muslim riots in a state he governed.

Obama is the first U.S. president to attend India’s Republic Day parade, an annual show of military prowess that was long associated with the anti-Americanism of the Cold War.

via Rain on India’s parade, but Obama visit keeps spirits high | Reuters.

20/01/2015

Obama’s Seven Habits for a Highly Successful India Visit – India Real Time – WSJ

U.S. President Barack Obama’s upcoming visit to India won’t be his first trip to the country.

Mr. Obama and the First Lady last swept through Delhi and Mumbai in November 2010 in a carefully- choreographed charm offensive, addressing sensitive issues such as Pakistan and the U.N. Security Council, while finding time to dance at a high school and speak a bit of Hindi.

Much has changed in India since Mr. Obama last arrived on its shores: the government, the prime minister, the number of international coffee and burger chains. Many things haven’t altered however and by the time he leaves next week, the president will be something of an old hand in the world’s largest democracy. By visiting a second time, he becomes the only serving U.S. president to have made two official trips to India.

1. Back a Bid

India has for years coveted a permanent seat on the United Nations Security Council. In Mr. Obama’s 2010 visit, he used a speech to the Indian Parliament  to back the country’s inclusion “in the years to come” as a permanent member of the council with power of veto.

2. Tread Carefully on Pakistan

Any world leader visiting India must choose their words on the country’s rival Pakistan carefully.  In the same speech to the Indian Parliament, Mr Obama said the U.S. insisted Pakistan limit terrorist-safe havens within its borders, adding: “We must also recognize that all of us have an interest in both an Afghanistan and a Pakistan that is stable, prosperous and democratic—and none more so than India.”

3. Make a Trade Announcement…

Mr. Obama was in Mumbai when he announced a loosening of restrictions on U.S. exports to India. The move was aimed at making it easier for U.S. companies to export technology for military and non-military use after the U.S. imposed controls on trade with India in dual-use technologies — items that have both military and peaceful purposes – after India’s nuclear-weapons tests in 1998.

The president said: “We’re taking the necessary steps to strengthen this relationship.”

4. …And Ask for Something Back

Mr. Obama asked India to reduce barriers in sectors such as agriculture, retail and telecommunications to promote trade. “In a global economy, new growth and jobs flow to countries that lower barriers to trade and investment,” he said.

U.S. President Barack Obama and Indian Prime Minister Manmohan Singh, embrace following a joint statement and press conference at Hyderabad House in New Delhi, India, Nov. 8, 2010. Associated Press

5. Work on Chemistry

Ahead of the 2010 meeting, both Mr. Obama and then-Indian Prime Minister Manmohan Singh echoed each other’s language on the relationship between their two countries. “I think the India-United States relationship has entered a new phase,” Mr. Singh said before Mr. Obama’s visit.

6. Pick Your Battles

There was much speculation that Mr. Obama would touch on the issue of the outsourcing of U.S. jobs to India during his 2010 visit. In the end, he deftly sidestepped the issue in the name of healthy competition:

“There are many Americans whose only experience with trade and globalization has been a shuttered factory or a job that was shipped overseas,” he said, adding that many Americans still had a “caricature” of India as a place with call centers where U.S. jobs have been outsourced.

On another touchy subject, Kashmir, Mr. Obama let Mr. Singh do the talking. Mr. Singh said he wanted to reduce tensions with Pakistan, including over Kashmir, but could not do so unless Islamabad cracked down on terrorism.

U.S. President Barack Obama bows as he arrives to deliver a speech at Parliament House in New Delhi Nov. 8, 2010. Agence France-Presse/Getty Images

7. Visit the Right Places, Wear the Right Things, Use the Local Lingo

Photogenic India provided Mr. and Mrs. Obama with ample visual material. Mrs. Obama gamely joined children dancing at a high school in Mumbai, eventually persuading the president to join her. She also took part in a game of hopscotch and urged students at a college in Mumbai to “keep dreaming big huge, gigantic dreams–for your community and for your world.”

Perhaps the most arduous part of the visit of any dignitary to another country is avoiding any faux pas, embarrassing photographs or poor sartorial choices.

Mr. Obama’s staff carefully chose Humayun’s tomb in New Delhi as an appropriate tourist destination for the president.

Meanwhile, Michelle Obama’s outfits were carefully scrutinized for any embarrassing mistakes – which she seemed to avoid.

Mr. Obama rounded off the whirlwind tour with the crowd-pleasing cry in Hindi of ‘jai hind!’, or ‘hail India!’ at the end of his speech to the Indian Parliament.

via Obama’s Seven Habits for a Highly Successful India Visit – India Real Time – WSJ.

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