1.   

Pawar wants India to export more FCI wheat owing surplus

Anticipating storage problems during the peak wheat procurement season, Agriculture Minister Sharad Pawar today said there is scope for exporting more wheat from FCI godowns to clear space for new crop. In the 2012-13 fiscal, the government permitted 9.5 million tonne of wheat from FCI godowns. Of this, 5 million tonnes was allowed for exports by private players last month and is yet to be shipped.

2.   

Exporters want RBI to raise foreign currency loan limit to $25 b

To provide cheaper credit for exports, Federation of Indian Export Organisations (FIEO) has asked Reserve Bank of India to increase the aggregate limit of foreign currency loans to $25 billion and extend the deadline to take such loans by a year. “The RBI had set a $6.5 billion limit on dollar loans to banks,” which has been exhausted. We have asked for an increase in this limit to $25 billion so that SMEs can get dollar loans at an interest rate, which is less than 3-4 per cent,” M Rafeeque Ahmed, President, FIEO, told newspersons after meeting the RBI brass.

3.   

It’s time for free trade pact with Russia, says India

India and the Customs Union of Russia, Kazakhstan and Belarus will hold their first-ever talks on a free trade agreement with the arrival on Tuesday of Victor Khristenko, Chairman of the Board of the Eurasian Economic Commission. Speaking at a seminar, senior External Affairs Ministry official Ajay Bisaria described economics as the weakest link in India-Russia strategic ties which could be fortified with an FTA or a Comprehensive Economic Cooperation Agreement (CECA).

4.   

India-Myanmar joint venture talk to be held in Myanmar

A 17-member business delegation led by Secretary General Dr T Roy from Calcutta Chamber of Commerce of India will make joint venture talk with Myanmar businessmen at the Union of Myanmar Federation of Chambers of Commerce and Industry ( UMFCCI) here, according to UMFCCI Monday. The talks, slated for April 4, will cover textile industry, heavy construction, real estate service, electronics, tea and agriculture, timber, mine, energy, steel, jute, finance, tourist industries for establishing joint venture with Myanmar entrepreneurs.