1.   

Share of exports in GDP increases

Share of the export sector in gross domestic product (GDP) have increased from 14% in 2009-2010 to 16% in 2010-2011 and 17.7% in 2011-2012, commerce and industry and textiles minister Anand Sharma told the Lok Sabha today. “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%age share of merchandise exports in the overall GDP of India from 13.9% in 2009-10 to 16.0% in 2010-11 and 17.7% in 2011-12,” Sharma said.

2.   

India's exports to Pakistan rises to $1.64 bn in April-February

India's exports to Pakistan has improved to USD 1.64 billion during April-February 2012-13, Parliament was informed today. For the entire 2011-12 fiscal, the shipments to the neighbouring country had stood at USD 1.53 billion. The country's imports from Pakistan too increased to USD 487.5 million during April-February 2012-13. In 2011-12, the imports stood at USD 421.8 million, Commerce and Industry Minister Anand Sharma said in a written reply to the Lok Sabha.

3.   

India-EU FTA negotiations have been intensified: Anand Sharma

The negotiations between India and the European Union (EU) for a free trade agreement have been "intensified", Parliament was informed today. "Negotiations across number of tracks including trade in goods, services, investments...government procurement, customs cooperation and trade facilitation, competition and intellectual property rights (IPRs) are underway. Negotiations have been intensified," Commerce and Industry Minister Anand Sharma said in a written reply to the Lok Saha.

4.   

India may propose preferential trade deal with Iran

India is likely to propose a preferential tariff arrangement to Iran to boost the bilateral trade between the two countries, hoping higher exports will help it pay for crude oil imported through the rupee payment mechanism set up last year. The US led sanctions on Iran have made it difficult for India to make payment for crude oil India purchases from Iran resulting in a drop in share of Iranian crude to about 7% from 11% in 2011-12.