India, US trade talks

Washington: India has advised the US to look for ‘convergence of respecting each other’s sensitivities’ as three senior US officials asked New Delhi to take the lead in pushing the stalled Doha round of world trade talks. “There has to be a convergence of respecting each other’s sensitivities,” Indian commerce minister Kamal Nath said. — HNS

Banking sector grows

Singapore: The banking sector in developing economies led by China and India is likely to overtake the banks in the currently richest countries by 2050, a PricewaterhouseCoopers report stated. The emerging economies including Brazil, Russia, Indonesia, Mexico

and Turkey are forecast to see their banking sectors surpass those of the G-7 countries — the US, Japan, Germany, Britain, France, Italy and Canada. — DPA

Americans hired

Washington: Call it reverse outsourcing or local talent hunting, but high-tech Indian firms say they have been hiring Americans as part of their long-term growth strategy. Officials at companies like Tata Consultancy Services, India’s largest outsourcing firm, and Wipro Technologies, another major Indian technology provider, say this has nothing to do with periodic outcries that Indians are taking away jobs from Americans. — HNS