1.   

PM panel pegs FY14 growth at 6.4%

Laying emphasis on faster clearances of projects to fast-track investments, the Prime Minister’s Economic Advisory Council (PMEAC) headed by C Rangarajan has projected a much higher growth rate of 6.4 per cent for the current financial year (2013-14) as against the estimated 5 per cent last year, the lowest in a decade. Releasing the economic review for 2012-13 here today, Rangarajan said the economy has bottomed out and the current year will see higher growth on the back of improvement in agriculture and manufacturing.

2.   

Food service sector: Sharma keen on better coordination; growth at 11%

The current size of the Indian food service industry is Rs 247,680 crore and is projected to grow to Rs 408,040 crore by 2018 at 11%, according to the India Food Services Report 2013, a comprehensive report on the Indian restaurant industry, released by the National Restaurant Association of India (NRAI) on Tuesday. Released by Anand Sharma, minister of commerce and industry, the report gives detailed information on the industry size and highlights the industry’s trends, growth and contributions to the economy.

3.   

EU ready to make "ambitious" work visa offer for India trade pact

The European Union is ready to make an "ambitious" offer on temporary work visas for Indian professionals to help finalise a delayed free trade agreement, the EU's chief negotiator said on Tuesday, and called on India to reciprocate. Negotiators had originally hoped to seal the deal in 2012, but talks stalled over issues including access for Indian workers to Europe's labour market.

4.   

India-ASEAN Trade Doubled to US$ 80 Billion Exploring New Areas of Cooperation: Preneet Kaur, Minister

“India - ASEAN trade in goods has been robust, growing to $80 billion in 2011-12, doubling since 2007-08 despite the global economic crisis”, Mrs. Preneet Kaur, Minister of State for External Affairs said while addressing the conference on "India-ASEAN Project Partnership" at New Delhi organised by CII. While highlighting the potential sectors she said that infrastructure would be a large area of cooperation in sectors such as railroads, ports, airports and roads. She also mentioned renewable energy, agriculture and IT are potential areas of cooperation.