สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 30 มีนาคม 2555
BRICS countries ink pact to trade in local currencies
In an initiative to promote trade in local currencies, the BRICS nations on Thursday signed two agreements to provide line of credit to business community and decided to examine the possibility of setting up a development bank on lines of multilateral lending agencies.
The agreements were signed by officials of five countries - Brazil, Russia, India, China and South Africa - at the fourth BRICS summit.
The Master Agreement on Extending Credit Facility in Local Currency and the Multilateral Letter of Credit Confirmation Facility Agreement are being perceived as a step towards replacing the dollar as the main unit of trade between them.
Such intra-BRICS initiatives, according to officials, will not only contribute to enhanced trade and investments among the nations but would also facilitate economic growth in difficult economic times.
The initiative to set up a BRICS Development Bank on the lines of the World Bank would allow the member countries to pool resources for infrastructure development and could also be used to lend during the difficult global environment.
The five BRICS countries together make up 43 percent of the world's population and hold a combined GDP of over $18 trillion.
Intra-BRICS trade is about $230 billion and has the potential of more than doubling to $500 billion by 2015.
The business forum meeting was jointly organised by the three apex industry lobbies - the Federation of Indian Chambers of Commerce and Industry (FICCI), the Confederation of Indian Industry (CII) and the Associated Chambers of Commerce and Industry (ASSOCHAM).
(Source: Business Standard, Indian Express, the Hindu Business Line, Jagran.com)
India, Bangladesh extend trade protocol, to liberalize trade
In a bid to strengthen the economic relations between the two nations, India and Bangladesh on Thursday agreed to renew the bilateral trade agreement, which expires on March 31, for another three years. The existing trade pact between the countries came into force on April 1, 2009.
The two sides also discussed various issues related to trade and transit to stablise policies aligned with the benefits for better regional integration.
They also decided that deliberations were required on several issues, including the need to improve trade infrastructure — especially the land route trade infrastructure. India also asked Bangladesh to remove 225 items from Bangladesh sensitive list which is currently awaiting consideration.
The Bangladesh side expressed concern over uninterrupted export of cotton by India.
Bangladesh assured India that it will favourably consider India's request for substantial reduction of sensitive list before the next meeting of the SAFTA Committee of Experts scheduled in May.
On the issue of India's concern on imposition of supplementary duty over 60 per cent on import of plastics, Bangladesh agreed to examine this issue and revert expeditiously.
(Source: Economic Times, Financial Express, IBNLive, Daily Star Online)
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