1.   

India, S. Africa may sign preferential trade pact this year

India and South Africa may conclude a Preferential Trade Agreement by the end of this year, which would significantly boost bi-lateral trade, according to Moketsa Ramasodi, Chief Director, Department of Agriculture, Republic of South Africa. The current bilateral trade between India and South Africa was over $14 billion, he said at a meeting organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry here today.

2.   

UK-India business centre gets kick-start in Gurgaon

The UK government's decision to create a pan-India network of business centres got a major boost with the appointment of a managing director to head the ambitious project in the country. The UK India Business Council (UKIBC), tasked with realising British Prime Minister David Cameron's announcement of these centres during his high-profile visit to India in February, named Richard McCallum, co-founder and director of Flying Fox - India's first zipline tour company - as MD of UKIBC India Private Limited.

3.   

Govt relaxes norms for export of imported goods

To encourage shipments, the government has allowed export of imported goods with 15 percent value addition to countries from where the proceeds are realised in Indian rupee. The Directorate General of Foreign Trade (DGFT) will notify the names of those countries as to which exports under the new dispensation could be made. "An enabling provision has been made to allow export of goods imported against payment in freely convertible currency where export proceeds will be realized in rupees," it said.

4.   

Food ministry to seek Cabinet approval for greater wheat exports

To cash in on higher price realization for wheat exports from Food Corporation of India (FCI) stocks from last year, the food ministry is preparing a Cabinet note to seek approval for greater shipments in the current fiscal. Since the Cabinet approved 4.5 million tone (MT) of wheat exports from FCI stocks in August last year, the corporation has exported more than 3.8 MT so far at an average price realization of more than $305 per tone, which is about $30-35 per tone higher than the Chicago Board of Trade’s (CBOT) average benchmark price.