สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 17 ธันวาคม 2555
Conclusion of Thai-India FTA postponed to 2013
The conclusion of the long-awaited comprehensive free-trade agreement between Thailand and India will possibly be postponed to 2013 instead of this month because both sides have yet to agree on several issues, the Trade Negotiations Department said.
Meanwhile, the department is also giving careful consideration as to whether it should go ahead with the Thai-European Union free-trade talks after related enterprises and consumers have voiced concerns about certain issues, mainly trade in pharmaceuticals and alcohol.
Delaying the conclusion of a comprehensive Thailand-India FTA could result in bilateral trade not meeting the US$9-billion projected expansion by 2014. However, it is believed the pact will be wrapped up by early 2013.
Piramol Charoenpao, director-general of the Trade Negotiations Department, said that Thailand would not rush into finalising a deal with India if the benefits are not satisfactory to both sides.
(Sources: The Nation, Bangkok Business Brief, Allvoices)
India-ASEAN Trade Conclave to focus on business and culture
The India-ASEAN Trade Conclave focusing on business and cultural relations between North East India and South The focus of this conclave would be to demonstrate NE's proximity with ASEAN countries, create public awareness of India-ASEAN relations, promote connectivity especially road transport and enhance trade, investment, tourism and people-to-people contact, they said.
The conclave would discuss perspectives in business, development, culture and tourism and deliberations would be held on mines and minerals, IT and IT-enabled services, education, health care, agriculture and food processing, border trade, air and sea connectivity, culture and infrastructure, the sources added.
(Sources: Economic Times, Press Trust of India, Zeenews, Business Standard, the Statesman)
Assam tea industry to focus on export to ASEAN countries
Assam's tea industry will focus on increasing exports to ASEAN countries in view of the untapped markets there, an official of North Eastern Tea Association has said.
"All the ASEAN countries are tea-drinking nations, but barring a few, the others do not produce the beverage and as such there is immense potential of exporting Assam tea to these countries," North Eastern Tea Association Chairman Biydanand Barkakoty told PTI.
"The ASEAN market is an untapped market for us and the ASEAN-India Trade Conclave here tomorrow will be a stepping stone for exploring new markets," he said.
Vietnam and Indonesia are leading tea producers among the ASEAN countries with Malaysia and Myanmar also contributing in a small way.
(Sources: Economic Times, Press Trust of India, Hindu Business Line, Business Standard)
Green Ministry eases SEZ clearance norms
The environment ministry has simplified the procedures for granting clearances to special economic zones as it seeks to shed the anti-industry image.
A recent order issued by the environment ministry states that the environmental clearance process for SEZs will now follow the system laid out for National Industrial and Manufacturing Zones under the National Manufacturing Policy 2011.
The environment ministry is seen by industry as a big hurdle in project execution as many large investment proposals have been blocked because of issues with the ministry. The coal ministry has repeatedly complained that environmental clearances were a big hurdle in its effort to raise coal output. Numerous coal mines cannot be developed because they do not have environmental clearance.
(Sources: Economic Times, Indiatimes, Rediff, Indian Express, Zeenews, IBNLive, NDTV)
Export of agricultural, allied products grows 40%, pips traditional goods
Agricultural and allied products, chemicals and related products have posted strong growth in exports during the first seven months of the current fiscal piping traditional goods, including engineering, petroleum products and gems and jewellery, according to the data collected by the Director General of Commercial Statistics and Intelligence,
According to foreign trade performance analysis, agricultural and allied products, which had a share of 11.43 % in the total export basket, grew by as much as 40 % during April-October 2012 to stand at $18.86 billion.
Goods traditionally occupying the largest share in the export basket including engineering goods, petroleum products and gems and jewellery saw a decline in exports during the period. Engineering goods export with a share of over 19 % in the basket dipped 7.73 % and stood at $32.04 billion during the month compared to $34.73 billion during the corresponding period a year ago.
(Sources: Indian Express, Financial Express, Rediff, NDTV, IBNLive, Moneycontrol)
Economic Section
Royal Thai Embassy
