1.   

PM may meet Chinese Prez in Beijing on Oct 23

Prime Minister Manmohan Singh is expected to travel to Beijing and meet Chinese President Xi Jinping for summit level talks on October 23, despite tensions over frequent incursions by Chinese troops into Indian territory. The trip is aimed at expanding bilateral trade and removing China’s anxiety over India upgrading its border infrastructure along the 3,488-km LAC, which is said to be making Beijing increasingly wary.

2.   

Trade deficit likely to narrow this fiscal year: Anand Sharma

Trade minister Anand Sharma said on Tuesday that he was optimistic that the country's trade deficit for the current fiscal year ending March 2014 would be lower than the previous year. Trade deficit narrowed to $10.9 billion in August, provisional government data showed earlier on Tuesday, giving some relief to the rupee currency that had plunged to a series of record lows last month. Exports picked up to post a growth of nearly 13 percent.

3.   

Exports up 5.9 pc in fourth quarter of 2012-13: RBI

India's merchandise exports grew 5.9 percent while imports declined marginally by 1 percent in the fourth quarter of 2012-13 fiscal year, leading to a narrowed down trade deficit of $ 45.6 billion during the period, according to RBI data. "In Q4 of 2012-13 merchandise exports (BoP basis) recorded a growth of 5.9 percent while imports declined marginally by 1 percent owing mainly to a decline in non-oil non-gold imports reflecting a decline in domestic activity.

4.   

Ban on basmati rice imports from India lifted by Russia, informs APEDA

In a notice, the Agricultural and Processed Food Products Export Development Authority (APEDA) informed that Russia has agreed to lift a ban on the import of basmati rice from India. It was imposed for the non-compliance with the former's phyto-sanitary requirements. This followed a visit to India by a high-level delegation representing Russia's foreign ministry earlier this year, and hectic negotiations, which included India's promise to comply with the country's food safety regulations.