1.   

India Forecasts Surplus Grain Stocks

India is likely to have a surplus of grains to export this year despite the planned roll out of an ambitious food-security program that gives the right to almost-free grains to around 70% of the population, Farm Minister Sharad Pawar said Tuesday. Exceptionally good rains this monsoon season have helped boost the planting area for summer crops like rice and oilseeds, Mr. Pawar told reporters. India will likely have a record output of rice, the country's main summer crop, he said.

2.   

Government likely to review bilateral trade pacts, FTAs to reassess gains

The government may review India's bilateral trade pacts including free trade agreements (FTAs) amid increasing clamour from the industry against conceding foreign trading partners more access to the country's market without extracting significant gains in return. The finance ministry wants a review of the FTAs to ensure an optimum deal for the country, a senior official told ET, adding that India cannot run a high current account deficit for long.

3.   

India, Australia welcome signing of MoU to promote agriculture, retail

Education ministers of India and Australia have welcomed the signing of a Memoranda of Understanding between Australian and Indian industry and sector skill councils in agriculture, mining, retail and telecommunications, with media and entertainment working under an agreed engagement plan. Ministers Kim Carr and M.M. Pallam Raju said in a joint communique issued after an India-Australia Education Cooperation meeting held here, that these collaborations are pivotal to developing quality occupational, training, accreditation and information standards to support the building of skilled and productive workforces, aligned to the needs of industry.

4.   

India Ready for Bilateral Investment Treaty Talks with US

In an effort to reinvigorate commercial ties between the world's two biggest democracies, India is ready for talks with the United States on a bilateral investment treaty,a report said Saturday. The announcement comes days after China and the United States agreed to relaunch talks on a similar bilateral investment treaty. "Economic engagement in both trade and investment, though robust, is well below potential, given the opportunities a growing economy like India offers and the opportunities in the largest economy of the United States,"  said Minister Anand Sharma.