In the present days, we know that the COVID-19 has been spread in every part of the world. And it is continuously growing at a large scale, but nobody has formed its vaccination till now. Every country is trying its full efforts but has not touched the complete destiny against coronavirus. The countries like USA, India, France, Israel, Russia etc have been giving their bests to make anti-node for this deadly virus but the struggle of these big countries is still on the way.
Except China, all these countries are working together and helping one another to fight against this virus. Recently, US President Donald Trump has decided to help India by providing them ventilators to defend this ongoing trouble. The US president Donald Trump described PM Modi as a very good friend and also said that our country is always stands with India during this pandemic.
US President Trump also said that the US and India have very good relations since long time and are working together against the COVID-19. India counted confirmed cases crosses 85,000 on Friday, surpassing China’s count 82,933 infected.
I feel very proud to announced that the US will donate ventilators to our close friend India.
In reply to US President Donald Trump, PM Modi has expressed very warm thanks to US President for providing ventilators to India and described US as a good friend.
Current COVID-19 cases in USA
- Current cases of COVID-19 in US are 1,507,756 (increasing).
- Number of deaths in USA are 90,113( varying).
- Total no. of recovered citizens are 339,232( increasing).
- The WHO estimates the death rate of the new coronavirus to about 3% ( varies), based on current data. Death Rate = (Deaths/cases)x100.
- A coronavirus vaccine trial in the US has given a dose to its first participant ( human).
- A healthy volunteer in Seattle, USA is the first person to receive a dose of an experimental coronavirus vaccine.
- Approximately, 20,800 new cases of COVID-19 were reported in United States of America.
- Between January 20 to 16 May there have been 1,507,756 confirmed cases.
- The above graph shows that the COVID-19 cases are continuously increasing.
Current COVID-19 cases in India
- The total confirmed cases of COVID-19 in India are 90,927( increasing).
- Number of deaths are 2,872( varying).
- Number of recovered citizens are 34,109( increasing).
- As per analysis done by World Health Organisation, India has the highest recovery rate of 34% in all over the world.
- India is applying its full efforts in making vaccine for COVID-19, and it launched anti-bodies Therapy called ” Plasma Therapy ” to destroy COVID-19, but this Therapy did not came into work upto to the limit.
- India also found that the COVID-19 infection can be overcomes by using a chemical called as “ Hydroxychloroquine“.
- India also helped another countries like USA, Russia, Israel etc by giving them tablets of “ Hydroxychloroquine ” in order to overcome the impact of COVID-19.
Trade Relationships Between India and United States of America
The Trade relationships between India and US are very good and vast. These trades help them to increase their GDPs. Trades between any two countries are classified;
- Trade and Investment Framework Agreement (TIFA).
- Bilateral Investment Treaty (BIT).
- Preferential Trade Agreement (PTA).
- Free Trade Agreement (FTA).
- Comprehensive Economic Partnership (CEPA).
- Common Market.
Among all these, Trade and Investment framework Agreement, Bilateral Investment Treaty and Preferential Trade Agreement are considered as” least complex trade“. These are those trades which starts at the initial point i.e trade initiatives between any two countries for the first time. In these trade,only goods are imported and exported. While in ” Most complex trades “, political, social, economic, defensive parameters are being involved.
But we are discussing about the trade between India and United States of America, and that trade is “ Free Trade Agreement“. It is going to be the biggest trade of India with United States.
India – US Trade in Last 25 Years
- In 1995, total two way trade, India and US including goods and services, was $11 billion.
- In 2018, it crossed $140 billion.
- It is reported to be around $150 billion in 2019.
- India enjoys surplus of nearly $23 billion.
- The services system of India is very good, that is why India usually exports more goods to United States rather than importing.
Why Free Trade Agreement Deal is Important For India?
- India has left the proposal of China to join RCEP i.e” The Regional Comprehensive Economic Partnership” . It is proposed free trade agreement in the Indo-Pacific region between the ten member states of the Association of Southeast Asian Nations ( ASEAN ) . China insisting India to join RCEP, but India refused because India and US do not want to give benefits to China.
- Now, without entering into separate trade agreements, India may not be able to tap a sizeable portion of the global market.
- In the backdrop of the global economic slowdown, it is important for the country to diversify and strengthen bilateral relations with other markets in order to increase GDP( Gross Domestic Products ).
- Also in the recent Economic survey, it is confirmed that India do trade maximum with the developing countries. While on the other side, China do maximum with developed countries. That is why in order to increase GDP, India needs to do big trade with US.
Problems in India-US Trade Deal;
- Disagreements over Tariffs; United States of America gives statements that India applies more tariffs on US goods to be imported in India. For eg , Harley Davidson bike is very expensive bike due to more tariffs applied on it by India.
- Subsidies; United States of America blames India that it gives more subsidies to their citizens like farmers. Due to this reason the imported fertilizers of United States found loss in their trade.
- Intellectual Property; According to US, India violates the intellectual property. But US wants to strengthen this intellectual property.
- Data Protection; Reserve Bank of India and Indian Government plans not to reveal about the US companies in the world that are present in India as a branches of parent companies. That is why, US faces loss.
- Access for agricultural and dairy produce; According to US, India does not give Access to United States of America for agriculture sector. United States of America also removed India from GSP only because of Access issue that India does not give to United States of America.
Conclusion; COVID-19 has slow down the economic growth rate of every country in the world. But all the countries performing their full efforts in making the Anti-node for this deadly virus. We wish that this tragic trouble may gone soon and again we live in a peacful way.
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