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India in talks with GCC countries to sign free trade pact

India is in talks with members of the Gulf Cooperation Council (GCC) to conclude a free trade agreement and a framework agreement for the FTA has already been signed, a leading Indian banker in the region has said. In a note, Doha Bank Group CEO R Seetharaman said bilateral trade between India and GCC countries exceeded USD 80 billion in the nine months up to December, 2010. According to him, the GCC countries -- Oman, the UAE, Bahrain, Kuwait, Qatar and Saudi Arabia -- have identified various sectors, such as .....

2.   

India, Afghan agree to boost trade; lower tariffs on cards

With a view to expanding trade and economic relations, India and Afghanistan today agreed to take steps to simplify customs procedures and gradually lower tariff barriers. A joint statement issued after a meeting between Prime Minister Manmohan Singh and visiting Afghan President Hamid Karzai said, “The sides agree to take effective measures to create a favourable environment to promote trade and .....

3.   

Punjab to export rice worth Rs.2500 crores: Kairon

Out of two Million tonne of non basmati rice being exported from the country, Punjab was all set to export one Million tonne to the tune of Rs.2500 crore during the Kharif marketing season - 2011-12. Addressing the media persons here today at Punjab Bhawan this afternoon, Food & Civil Supplies Minister Mr. Adesh Partap Singh Kairon said that the GoI lifted the ban on the export of non basmati rice in the month of September and now the export of rice had .....

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Food Processing Ministry seeks 4-fold hike in 12th Plan outlay to curb wastage

The Food Processing Ministry has sought a nearly four-fold hike in its 12th Five-Year Plan outlay to Rs 15,000 crore to curb wastage of fruits and vegetables worth Rs 44,000 crore every year, which is more than the budgetary allocation for the MGNREGA scheme in FY’12. “The amount of food wasted every year due to lower food processing potential is Rs 44,000 crore, which is more than the budgetary allocation for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) of .....