1.   

Share of exports in India's overall GDP rises to 17.7% in FY12

The share of merchandise exports in the country's GDP has increased from 13.9 per cent in 2009-10 to 17.7 per cent in 2011-12, Parliament was informed today. In a written reply to the Rajya Sabha, minister of state for commerce and industry D Purandeswari said that exports have always played an important role in the economic development of most countries. "This is evident even in Indian case from the continuous upward movement of percentage share of merchandise exports in the overall GDP of India from 13.9 per cent in 2009-10 to 16 per cent in 2010-11 and 17.7 per cent in 2011-12," she said.

2.   

Free trade pact with Asean likely to be signed in August

The Free Trade Agreement between India and the Asean (Association of South East Asian Nations) is all set to become a more comprehensive one. A pact on trade in services, as well as investment, is going to be signed in the next few months. Avinash P. Joshi, Director, Union Ministry of Commerce and Industry, said negotiations between the Indian Government and Asean (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) are over and an agreement to this effect would be signed in August.

3.   

Trade between India and Latin America likely to double: Govt

Trade between India and LatAm are likely to double in in next five years from the current level of $30 billion, with direct shipping, air connectivity, visa on arrival and free trade agreements as some of the steps being taken to boost trade with the region. "At the rate at which it is growing in about five years, we should be able to double it. If not, it will be $50 billion," said Dammu Ravi, joint secretary (Latin America and Caribbean) in the MEA.

4.   

Portugal Minister for Doubling Bilateral trade with India

Portugal Foreign Affairs Minister, Mr Paulo Portas on Monday, 4th March 2013 said that his country is looking for economic cooperation with India to double the bilateral trade. “When I look at India - Portugal economic bilateral relations, the volume of bilateral trade is unbalanced and still at a low level: in 2012 total trade in goods and services amounted to only 500 million EUR. Its low, but we can do much more.