1.   

'US Looking at Two-way Trade With India'

High import tariffs on food products remain a barrier for expanding agricultural trade with India, said Adam Branson, US Department of Agriculture’s senior attache at the Consulate in Mumbai. He was speaking at an interaction organised by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) in the city on Wednesday. “For instance, the tax levied on wine, if brought into India, is charged at a whopping 150 per cent. The tariffs for other food products are over 40 per cent, depending on the type of commodity,” Branson said.

2.   

India presents itself as investment magnet for Spanish businesses

More than 100 representatives from the Spanish and Indian public and private sectors got together Wednesday in Madrid to strengthen their countries' ties at a time when the Asian giant has become a global "centre of gravity" for development with huge opportunities for investment. The two-day meeting is taking place within the framework of the 1st Spain-India Forum organised by the Spain-India Council Foundation under the theme, "Cities and Sustainable Transport for the Next Generations".

3.   

Japan to import 43,365 tonnes feed wheat and barley via SBS auction

Japan's Ministry of Agriculture said it would import 14,135 tonnes of feed-quality wheat, and 29,230 tonnes of barley for livestock use, via a simultaneous buy and sell (SBS) auction that closed late on Wednesday. The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Feb. 6, 2015 and arrive in Japan by March 6 in the tender that is usually conducted weekly.

4.   

Government proposes subsidy regime for MSMEs in draft policy

The government today proposed a subsidy regime for MSMEs with turnover of up to Rs 5 crore as also a pro-growth regulatory framework, as it floated a draft policy for micro, small and medium enterprises. The MSME sector, at present, is governed by the industrial policy and does not have a policy of its own. The draft policy, on which comments has invited comments from stakeholders in 45 days, proposes providing subsidy for small entities having turnover of less than Rs 5 crore, among other things.