Indian-American owned IT company fined for H1-B visa violations

Washington, Feb 19: US President Donald Trump has said he is "saving the big deal" with India for later and he "does not know" if it will be done before the presidential election in November, clearly indicating that a major bilateral trade deal during his visit to Delhi next week might not be on the cards.

"We can have a trade deal with India. But I'm really saving the big deal for later," he told reporters at Joint Base Andrews Tuesday afternoon (local time).

The US and India could sign a "trade package" during the visit, according to media reports.

Asked whether he expects a trade deal with India before the visit, Trump said, "We're doing a very big trade deal with India. We'll have it. I don't know if it'll be done before the election, but we'll have a very big deal with India."

US Trade Representative Robert Lighthizer, the point-person for trade negotiations with India, is likely to not accompany Trump to India, sources said. However, officials have not ruled it out altogether.

In an apparent dissatisfaction over US-India trade ties, Trump said, "We're not treated very well by India." But he praised Prime Minister Narendra Modi and said he is looking forward to his visit to India.

"I happen to like Prime Minister Modi a lot," Trump said.

"He told me we'll have seven million people between the airport and the event. And the stadium, I understand, is sort of semi under construction, but it's going to be the largest stadium in the world. So it's going to be very exciting... I hope you all enjoy it," he told reporters.

Meanwhile, the US-India Strategic and Partnership Forum (USISPF) in a report said the latest quarterly data depict continuation of overall positive bilateral trade trends. The third quarter data reflects some downslide in growth rates.

"It may be due to several reasons, including the unexpected economic slowdown in India's economic growth, impact of US-China trade war, GSP withdrawal from the US side and retaliatory tariffs on specific US goods from the Indian side," USISPF said.

According to the report, the data available for the first three quarters of 2019 (January-September) pulled the overall growth rate in cumulative bilateral trade down to 4.5 percent from 8.4 percent registered for the first two quarters.

Goods and services trade performance in third quarter was dismal at -2.3 percent, in contrast with the impressive 9.6 percent growth witnessed for the first two quarters of the year; while trade in services was up two percent goods trade dropped five percent, the report said.

The cumulative US-India trade in goods and services (USD 110.9 billion) for the first three quarters of 2019 increased 4.5 percent with US exports and imports growing at four percent and five percent respectively.

The US exported USD 45.3 billion worth of goods and services to India in the first three quarters 2019, up 4 percent from the corresponding period in the previous year; and the US imported USD 65.6 billion worth of goods and services from India, up five percent from the previous year's USD 62.5 billion level for the same period, it said.

The USISPF has projected that the total bilateral trade can touch USD 238 billion by 2025 if the current 7.5 percent average annual rate of growth sustains; however, higher growth rates can result in bilateral trade in the range of USD 283 billion and USD 327 billion.

The US remains the top trading partner for India in terms of trade in goods and services, followed by China. While the bilateral trade between US and India is approximately 62 percent in goods and 38 percent in services, the bilateral trade between India and China is dominated by goods.

China had a huge trade surplus of USD 58 billion with India, indicating Beijing's strength in the Indian market, especially in sectors, such as electronics, machinery, organic chemicals, plastics and medical devices.

The US goods exports to India, in comparison, were mainly concentrated in mineral fuels, precious stones, and aircraft. The US faces tough competition with China in the Indian market in areas such as electronics, machinery, organic chemicals and medical devices.

Singapore, Mar 23: Oil prices fell at the open in Asia on Monday after a trillion-dollar Senate proposal to help the coronavirus-hit American economy was defeated and death tolls soared across Europe and the US.

US benchmark West Texas Intermediate initially tumbled more than three percent but then pulled back some ground to trade 1.5 percent lower, at $22 a barrel.

Brent crude, the international benchmark, fell 4.9 percent to $25 a barrel.

Prices have fallen to multi-year lows in recent weeks as lockdowns and travel restrictions to fight the virus hit demand, and top producers Saudi Arabia and Russia engage in a price war.

The latest drop came after a trillion-dollar Senate proposal to rescue the US economy was defeated after receiving zero support from Democrats, and with five Republicans absent from the chamber because of virus-related quarantines.

The bill had proposed funding for American families, thousands of shuttered or suffering businesses and the nation's critically under-equipped hospitals.

Coronavirus deaths soared across Europe and the United States at the weekend despite heightened restrictions.

The death toll from the virus -- which has upended lives and closed businesses and schools across the planet -- surged to more than 14,300 Sunday, according to an AFP tally.

AxiCorp chief markets strategist Stephen Innes said that "total demand devastation" had set it.

"Oil markets collapsed out of the gate this morning as prices react... to stringent containment lockdown measures," he said.

Washington, Mar 26: Indian-American hoteliers have come forward to rescue the stranded Indian students in the US following implementation of lockdown measures in the country in response to the rapidly-spreading coronavirus pandemic, offering them free accommodation and free meals.

With the students scrambling for a roof over their heads after being asked to vacate their hostels and India banning international flights for a week from March 22 due to the coronavirus pandemic, more than 6,000 rooms in nearly 700 hotels were offered to them by Wednesday following a call from the Indian Embassy.

The Indian Embassy have been running a round-the-clock helpline since last week for the students in the US, who number over 2,50,000.

Most of these hotels offered are in and around universities and colleges, but the hotel owners from across the country have come up in large numbers to the call given by community leaders, who have roped in Asian American Hotel Owners Association (AAHOA) for the purpose.

India's Ambassador to the US Taranjit Singh Sandhu said in a tweet, "It is heartening to see that Indian; Indian-American and other hotel owners are coming forward to help people with accommodation in these testing times. Together we can overcome the fight against COVID19!"

"The Indian community has come together to help the student and many hotel owners have offered their rooms free of cost to them. Many of them are also offering free meals to these students," Chicago-based community leader Nirav Patel told PTI.

Indian-American hotelier couple K K Mehta and Chandra Mehta have offered more than 100 rooms to Indian students at their two prime properties each near the Times Square and Barclays Center in New York City, said Jaipur Foot USA chairman Prem Bhandari on behalf of the hotels.

The Indian Consulate in New York had contacted them about this 10 days ago, he said.

"These students are the future of both India and the United States. All the top Indian-American CEOs, scientists and doctors came to this country as a student. It's our moral duty to help them with our resources," Bhandari said.

Regional director of AAHOA Upper Midwest Kalpesh Joshi said they had created a master list of the availability hotel rooms, which was being constantly updated.

Free accommodation would be allocated in coordination with the Indian Embassy and its consulates, he said.

"The Indian Embassy and its consulates are working tirelessly to get these students rooms," he added.

Joshi has also sent out a video message to his hotelier colleagues: "Because of the coronavirus outbreak, our Indian students in the US are out of shelter. Let's work together. As a hotelier, I would like to request all my hotelier friends to come forward... let's provide some rooms to the students."

Boston-based Computer Society of India (North America) has collaborated with AAHOA to help students and Indian IT professionals searching for emergency accommodation due to the COVID-19 lockdown.

Anyone who is having financial hardship will be given hotel accommodation either free of cost or the rates will not be more than USD 50, said the Computer Society of India (North America).

Minesh Patel, the chairman of Virginia Asian American Store Association, said between Richmond, Norfolk, and Virginia Beach, Indian-American hotel owners can help in arranging accommodation for over 500 Indian students.

Florida-based Vipul Patel, the national president of Asian American Store Owners Association, said support for the Indian students have been pouring in from the Indian-American hoteliers.

"I have not come across any hotel owner who said no to us," Patel said.

Rooms would be allocated to students on the recommendation of the Indian Embassy and its consulates in Houston, Chicago, Atlanta, San Francisco and New York.

The Indian Consulate in New York was the first to take a lead in this regard. It has worked with Hammock Worldwide Hotels and Resorts to provide temporary accommodation for the students at a flat rate of USD 50 per night.

Joshi said that initially there was a suggestion to charge a convenience fee of USD 20-25 per day from the students.

"But when a few of them offered free rooms and free meals, everyone agreed to it," he said.

According to Johns Hopkins University coronavirus tracker, the number of deaths caused by the novel coronavirus in the US rose to 1,031 with 68,572 confirmed cases. The US has the third highest number of confirmed cases behind China and Italy.