Bilateral pacts may help India sustain exports of agri commodities

Source: The Economic Times, May 14, 2012

CHANDIGARH: Exporters of agri commodities such as wheat, sugar and cotton feel that shipments could pick up if India would enter into bilateral agreements with countries in the Middle East, Africa and the Saarc bloc.

Comfortable global stock and a slowdown in the world economy are making Indian agri commodity exports unviable, say exporters. With a weak rupee, exporters are confident of demand for Indian agri products in international market if bilateral agreements are in place.

India sees scope for greater bilateral cooperation with Afghanistan

Source: The Hindu Business Line, May 10, 2012

New Delhi: India sees good potential in enhancing bilateral cooperation with Afghanistan in the small and medium enterprises, textiles and agro-processing sectors, the top commerce ministry official said here on Thursday.

Addressing a 12-member Afghanistan delegation organised by industry chamber FICCI , the Commerce Secretary, Mr Rahul Khullar said growth in imports from Afghanistan — at 16 per cent last year — was quite low. He said there was significant scope for greater co-operation.

India, Malaysia sign DTAA to boost trade

Source: The Economic Times, May 09, 2012

KUALA LUMPUR: India and Malaysia today signed a double taxation avoidance agreement (DTAA) with a view to boosting bilateral trade and facilitating exchange of tax information.

The main objective of the agreement is to avoid the incidence of double taxation on income by determining the taxing rights between the countries.

The pact also provides for granting reduction in withholding tax rates on certain incomes such as dividend, interest, royalty and fee for technical services on a reciprocal basis, an official statement released here said.

US keen on investing in Bengal

Source: The Hindu Business Line, May 07, 2012

Kolkata: The West Bengal Chief Minister, Ms Mamata Banerjee, on Monday said the US was willing to partner her Government to bring in new investments in the State.

The US, she said, has expressed interest for investments in the health, education, engineering and technical education, manufacturing and IT sectors of the region.

Tata Global enters into partnership with GMCR

Source: The Economic Times, May 07, 2012

MUMBAI: Tata Global Beverages, which makes Tata Tea and Tetley Tea, today said it has entered in a multi-year partnership with Green Mountain Coffee Roasters Inc (GMCR), a leader in speciality coffee and coffee makers to distribute and sell Eight O’Clock coffee, Tetley tea and Good Earth tea in GMCR’s Keurig K-Cup and Vue packs.

“Eight O’Clock Coffee company and GMCR plan to make a select offering of Eight O’Clock coffee K-Cup packs available through in-home and away-from-home channels in US and Canada in 2012,”  Tata Global Beverages and GMCR said in a joint statement.

Australia keen to boost trade relations with India

Source: The Hindu Business Line, May 02, 2012

Australia believes that there is a “huge amount of opportunity” for trade relations between the two countries despite the Indian Government’s flip-flop on the telecommunication sector.

“We are focussed on strengthening that relationship further and pursuing more trading opportunities. The fact that both countries have a strong programme focussed on innovation is a very important mutual agenda. And one creates the opportunity for further trade relationship and further investment,” the Australian Minister for Industry and Innovation, Ms Kate Lundy, told Business Line.

Narmada canals can give 2,200 MW of solar power

Source: The Hindu Business Line, Apr 25, 2012

Mehsana (Gujarat): If even 10 per cent of the 19,000 km-long Narmada canal network in Gujarat is used for setting up canal-top solar panels, it has the potential to produce 2,200 MW of solar power, save 11,000 acres of land that would otherwise be used and prevent 2,000 crore of precious water from evaporation annually, the Chief Minister, Mr Narendra Modi, said.

New Zealand keen on free trade pact with India

Source: The Hindu Business Line, Apr 24, 2012

Kolkata: Mr Richard White, New Zealand Trade Commissioner to India, has said his country is expecting to conclude the Free Trade Agreement (FTA) with India by next year.

FTA is a treaty between two or more countries to create a free trade zone. According to Mr White, New Zealand was not only “determined to conclude a successful FTA in the next year or so”, but also develop a collaborative and coordinated strategy for political, economic and trade ties between the two countries.

Bilateral discussions US, Korea fruitful, says Pranab

Source: The Hindu Business Line, Apr 23, 2012

New Delhi: The Finance Minister, Mr Pranab Mukherjee, returned to the capital New Delhi after a four-day official visit to Washington D.C., on Monday. He was in the US to attend the spring meetings of the Fund-Bank.

At the meetings, among other things, the member countries pledged to increase the resources of the International Monetary Fund by over $430 billion to help protect the world economy against deepening Eurozone debt crisis.

Nova Pulse IVF forms JV with IVI Spain to invest Rs 250 crore

Source: The Economic Times, April 12, 2012

New Delhi: Bangalore-based Nova Medical Centers today said it has formed a joint venture with Spanish reproductive medicine firm, IVI with plans to set up 25 clinics in India and Middle East by 2014 at an investment of up to Rs 250 crore.

The JV — Nova IVI Fertility — is between company’s arm Nova Pulse VF and IVI with the Indian firm holding 85 per cent stake and the rest with the Spanish partner.