1.   

Default in export obligation: 500 exporters to benefit from DGFT move

Tirupur Exporters’ Association today welcomed the public notice with an option to close the case of default in export obligation, as it would benefit nearly 500 exporting units in Tirupur. Commerce Minister Anand Sharma had announced the measure to close the case of default in export obligation, while unveiling the Annual Supplement of 2013—14 to the Foreign Trade policy and DGFT has issued a public notice on August 12, with an option to close the cases of default in export obligation, TEA president A Shaktivel said, in a statement.

2.   

Govt imposes $650 per tonne MEP on onion

Government on Wednesday imposed a minimum export price (MEP) of $650 per tonne on onion to curb shipments and control rising prices. May last year, the government had scrapped fixing MEP, which is a benchmark price below which onion cannot be exported. The decision regarding $650 per tonne MEP was taken in an inter-ministerial meeting. "MEP on onion was fixed at $650 per tonne at free on board," a commerce ministry official said.

3.   

Best is yet to come for UK-India ties: David Cameron

Describing Britain's ties with India as "a special relationship", Prime Minister David Cameron has said the best is yet to come for bilateral relations. Cameron congratulated India on the eve of its 67th Independence Day and praised "vibrancy of its democracy, the strength of its diversity and the power of its economy." In an article published by Asian Lite here, the British prime minister said he want to strengthen the relationship between the "world's oldest democracy and its largest."

4.   

'UAE, India bilateral trade to exceed $75 billion'

Abu Dhabi, Aug 16 (IANS/WAM) Trade and investment between India and the United Arab Emirates (UAE) is likely to exceed $75 billion in 2013, India's ambassador to the UAE M.K. Lokesh said Thursday. "Trade and investments will continue to be the engine that will drive the bilateral relations. Bilateral trade, which reached the level of $75 billion last year, is expected to increase further during the current year," the ambassador said in a statement to Dubai-based newspaper The Gulf News.