1.   

Economy to expand over 5%, average 8% growth rate to be revisited

The Planning Commission said it will revisit annual average GDP growth target of 8 per cent for the 12th Plan (2012-17) in view of dismal performance in first two years of policy period, while saying the economy is likely to expand by over 5 per cent this fiscal. "We have not made a short term estimate. We are relying on whatever Finance Ministry is saying. At the moment I don't see any reason to disagree with what Finance Ministry is saying," Commission's Deputy Chairman Montek Singh Ahluwalia said on the growth projection for this fiscal.

2.   

China keen on inking trade agreement during PM's visit

Beijing is keen to ink a regional trade arrangement with New Delhi during Prime Minister Manmohan Singh’s visit to China later this month, although a cautious India wants the communist country to do more to address its concerns on imbalance in bilateral commerce. Trade and economic issues are expected to be high on the agenda of discussion during prime minister’s visit to Beijing in the fourth week of this month.

3.   

Israel trade minister to visit India next week

Appreciating India's large talent pool, Israel has said it would endeavour to deepen bilateral economic engagement, which has the potential of achieving a four-fold increase in trade following the signing of the Free Trade Agreement. Israel's Minister for Trade and Industry Naftali Bennett, a former software entrepreneur would be on a four-day visit to India next week, where he will be also interacting with leading Indian businessmen, including Mukesh Ambani and Cyrus Mistry.

4.   

India a priority nation for Australia's Asia business strategy till 2025: Mark Pierce

Affairs and Trade, Pierce served for three years as assistant secretary of the Department’s South and Central Asia Branch. He has served overseas as Minister-Counsellor at the Australian Embassy in Washington. Conventionally, Australia was a place for either education or tourism. However, during the past decade, it has emerged as a country with tremendous opportunities for minerals and gas.