1.   

Commerce Min preparing new plan to double exports to $500 bn

With merchandise demand slowing down in global markets, the Commerce Ministry is drawing a new strategy for achieving exports of $500 billion by the end of 2013-14. "It will take around a month to prepare the action plan. The focus will be on reducing transaction costs of exporters, ensuring they do not face non-tariff barriers in the importing countries," a senior Commerce Ministry official told PTI.

2.   

Jammu Basmati hits US, Middle East markets

Much to the joy of the farming community and the state government, about 135 tonne Jammu Basmati has been exported to different countries, including USA and Middle East during 2011-12. The access to a wider overseas market has become possible following its inclusion in international grading standard by the centre. Pertinently, in 2010-11 about 63 tonne Basmati rice was exported by the state at Rs 5000 per quintal for the first time.

3.   

Indo-German trade to touch 20 billion euros: SM Krishna

Bilateral trade between India and Germany would touch 20 billon euros ($25 billion) during this calendar year despite debt crisis in Europe and the global economic slowdown, External Affairs Minister SM Krishna said Friday. "As our largest trading partner in the Europe Union, bilateral trade with Germany is going strong. We are optimistic of the trade between the countries achieving 20 billion euros in 2012 as against 18 billion euros ($22.5 billion) in 2011 despite the banking crisis in Europe and slowdown globally," Krishna told reporters here at a joint press conference with visiting German Foreign Minister Guido Westerwelle.

4.   

India-China bilateral trade set to hit $100 billion by 2015

In their 13th meeting in eight years, Prime Ministers Manmohan Singh and Wen Jiabao on Wednesday decided to take the India-China relationship to the next level by giving a boost to trade and priority to resolving the border dispute between the two countries. Going into a huddle on the first day of the Rio+20 conference here, the Indian Prime Minister, who calls Wen his 'close friend', and his Chinese counterpart agreed to take steps to ensure that the bilateral trade between the two emerging economies reaches $100 billion (about Rs 5,60,000 cr) by 2015.