India needs to navigate US sanctions on certain cos to safeguard biz: GTRI

Quick Summary:

On October 30, the US State Department and the Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on nearly 400 entities and individuals, including 19 Indian companies and two individuals, for allegedly supporting Russia's military activities in Ukraine.

India needs to carefully navigate the US sanctions imposed on certain Indian entities to protect their business interests and can engage diplomatically with America and other international bodies to seek remedies, think tank GTRI said on Friday.

To prevent future sanctions, India may plan to tighten export controls, offer clearer business guidelines, and ensure stricter compliance, it said.

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Article Details

Category: BusinessFinance

Markets: IndiaNorth KoreaUkraine

Topics: Business in India US sanctions GTRI Ease of biz Biz interest India sanctions

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 17:45:38 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 571 words

Reading Time: 4 minutes read

Sentences: 14 lines

Sentence Length: 41 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23470043

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