1.   

Biden for liberalised trade regime, sets $500 bn trade target

US Vice President Joe Biden on Wednesday said New Delhi should take fresh initiatives to help remove trade barriers and inconsistencies in tax regime and this could propel annual bilateral trade to USD 500 billion. He said the target was achievable if both countries made the "right choices". Biden, however, welcomed relaxation in FDI norms in certain sectors including telecom, defence and insurance and hailed India as a "rising power".

2.   

Govt to examine if FTA's have delivered: Minister

The government aims to closely examine the results of FTAs and PTAs entered into earlier before signing more such trade agreements with other countries, Minister of State for Commerce and Industry D Purandeswari said here on Thursday. "We did enter into FTAs and PTAs (Preferential Trade Agreements) with many countries. But again whether these FTAs and PTAs have really delivered is something that we need to very closely look at, which the government intends to do.

3.   

Indian exporters hopeful of quick renewal of GSP by US

Indian exporters are hopeful that the US will quickly renew its Generalised System of Preferences (GSP), which would expire on July 31. Exports to the US under GSP Form A Certificate of Indian Origin are allowed duty-free entry. Pending renewal of GSP programme, exports from India are subject to US import custom duties. "US GSP trade preference programme is due for renewal on July 31, 2013 and timely renewal of GSP is very important for maintaining stable bilateral trade between the two countries and to avoid uncertainty in quoting/bidding for any new business which will adversely affect the trade of both countries," CII National Committee on Exports Chairman Sanjay Budhia told PTI here.

4.   

India, Belarus sign protocol to boost trade ties

India and Belarus signed a protocol to boost trade ties during the sixth session of the Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation that was held here today.The session was co-chaired from the Indian Side by Dr. E.M. Sudarsana Natchiappan, Minister of State for Commerce and Industry, and Dmitry S. Katerinich, Minister of Industry of the Republic of Belarus.