Manmohan Singh to seek early conclusion of FTA on services
Prime Minister Manmohan Singh will demand an early conclusion of the free trade agreement in services and investment being negotiated between India and the 10-member ASEAN grouping at the India-Asean summit in Phnom Penh early next week.
In a bid to put pressure on ASEAN, which has been going slow on the proposed bilateral services and investment agreement, Delhi is likely to link signing of the agreement to the initiation of formal negotiations on the ambitious Regional Comprehensive Economic Partnership (RCEP).
ASEAN is now keen to enter into a comprehensive economic partnership with its six partner countries that includes India, Australia, China, New Zealand, Japan and South Korea, to create an integrated market in the Asia-Pacific region with a population of over 3 billion and a combined GDP of over $17 trillion.
(Sources: Economic Times, Indiatimes, the Hindu, Business World, Business Standard)
India's pepper exports dip: IPC
India has slipped to the fifth position in the global pepper exports market, behind Vietnam, Indonesia, Brazil and Malaysia, according to the International Pepper Community’s (IPC) estimates for this year. Last year, India was fourth on the list, according to IPC data.
IPC says overall global exports, including 16,200 tonnes from the five non-IPC countries of China, Thailand, Madagascar, Cambodia and Ecuador, would stand at 2,30,741 tonnes.
(Sources: Business Standard, Rediff, i4u, Hindu Business Line, Worldnews)
Economic measures will help reduce fiscal deficit: Pranab Mukherjee
President Pranab Mukherjee today said measures like allowing FDI in multi-brand retail and civil aviation will help in reducing government's fiscal deficit and putting the economy back on high growth path.
"The government has recently unveiled several policy measures designed to put economy back on high growth trajectory," he said while inaugurating the Indian International Trade Fair (IITF) here.
Important among these have been the decisions to allow FDI in multi-brand retail trade and civil aviation sector and to seek the legislative approval for increasing FDI cap in insurance and pension sectors, Mukherjee added.
(Sources: Economic Times, Zeenews, Times of India, Business Today, Hindu Business Linet)
Government releases $ 232 million to support MSME projects during FY13
On the occasion of the inauguration of Techmart at the India International Trade Fair (IITF) 2012 here in New Delhi, Minister of Micro, Small and Medium Enterprises (MSME) K H Muniyappa said that during 2012-13, an amount of $ 232 million for 53,826 projects has been released which are likely to generate jobs for around 4, 31, 000.
The MSME sector contributes to about 45 % of the total manufactured output and nearly 40 % to India's exports. There are about 26 million MSMEs in the country, providing employment to more than 60 million people.
(Sources: Economic Times, Indiatimes, Press Trust of India, Hindu Business Line, Zeenews)
India suffers over 11 percent power generation loss in 2011-12: CEA
India suffered a power generation loss of over 11 %, in 2011-12, on account of fuel shortage, transmission bottlenecks and equipment problems, a Central Electricity Authority (CEA) review has said.
Energy loss due to partial unavailability of the thermal generating units operating in the country during 2011-12 had increased to 9.43 % of the maximum possible generation during the year in comparison to the 9.34 % in 2010-11, the CEA review report.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Infraline, i4u, Zeenews)
India's rice output expected to be 100 million tonnes in 2012-13: FAO
UN body Food and Agriculture Organisation (FAO) has revised upwards India's rice production to 100 million tonnes (MT) in the 2012-13 crop year on the back of revival of rains in August and September.
The global body on the farm sector had earlier forecast the rice output in India, the world's second largest producer, at 98.5 MT. This was due to late onset of monsoon rains leading to deficit in key northern and southern growing areas.
(Sources: Economic Times, Indian Express, i4u, Press Trust of India, IBNLive)
14-day trade fair likely to witness about 1.5 million visitors
The annual India International Trade Fair (IITF) started in New Delhi yesterday with over 6,000 exhibitors, both domestic and foreign, showcasing a wide variety of products.
About 1.5 million visitors are expected to throng Pragati Maidan during the 14-day long fair, India Trade Promotion Organisation (ITPO) Chairperson and MD Rita Menon told reporters.
Belarus Prime Minister Mikhail V Myasnikovich, who was the guest of honour at the 32nd edition of the IITF, said his country was showcasing its products and expertise, particularly, in the field of heavy industry.
This year Belarus has been given the 'partner country' status and South Africa the 'focus country' rank at the fair. The theme of this year's IITF is "Skilling India", projecting the performance of the Central government and state ministries, departments and private sector in the related fields.
(Sources: Economic Times, Indiatimes, Press Trust of India, i4u, Express India, Rediff)
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