1.   

RBI extends realisation period for exporters to 12 months

The Reserve bank on Tuesday extended the period of realisation and repatriation for exporters of goods and software from 6 months to 12 months to help them deal with the global economic slowdown. "The issue has since been reviewed and it has been decided, in consultation with the Government of India, to extend the above relaxation with effect from October 1, 2012 till March 31, 2013," RBI said in a notification.

2.   

Declining exports: Finance Ministry examining proposals to give sops

Amid continuous contraction in exports and surge in trade deficit, the Finance Ministry is examining proposals of the Commerce Ministry to provide incentives to exporters to cushion them from the slowdown in western markets. "There are some proposals which Anand Sharma (Commerce and Industry Minister) has discussed with me. They are being examined," Finance Minister P Chidambaram had earlier told PTI in an interview.

3.   

India seeks resumption of WTO talks

India on Tuesday urged US President Barak Obama and leaders of agencies like the WTO to urgently resume multilateral trade liberalisation talks in order to limit protectionism and to prevent global trade and investment from sinking further. The Indian suggestion from Prime Minister Manmohan Singh was put across to world leaders at a global economic dialogue in Phnom Penh on the sidelines of the East Asia summit, which was attended by President Obama, WTO Director General Pascal Lamy, IMF MD Christine Lagarde.

4.   

India adds 22 items in the list of border trade with Myanmar

India has notified 22 additional items including agricultural tools, bicycles, coal and garments in the list of items for border trade with Myanmar. In a notification, the Directorate General of Foreign Trade (DGFT) said the existing arrangements for import/export of items under Indo-Myanmar Border have been revised and 22 new items have been added to the existing list of 40 tradable items taking the number of total tradable items to 62 for border trade.