1.   

Government to roll out another export package soon

The government will soon announce another package to encourage exports, which have dipped sharply this fiscal due to shrinking demand from the Western countries, a major market for Indian goods. An announcement to this effect is expected anytime after September 30, when the commerce department wraps up its assessment of the performance of various export sectors.

2.   

RBI Governor to hold pre-policy consultation meeting with trade bodies on Oct 17

Reserve Bank of India (RBI) Governor D. Subbarao will hold pre-policy consultations with trade bodies and credit rating agencies at Mumbai on October 17. The second quarter review of monetary policy 2012-13 will be released by the central bank on October 30. Apex industry associations like Assocham, which will be represented at the pre-policy consultation meeting by its President Rajkumar Dhoot, are likely to demand policy rate cut to give a boost to industrial growth.

3.   

Dubai, India trade touches $20.5 billion in first-half 2012

Trade between India and Dubai has reached over $20.5 billion (77 billion dirhams) in the first six months of 2012, accounting for 13 per cent of Dubai’s total foreign trade. Executive Chairman, Ports, Customs and Free Zone, and the Director-General of Dubai Customs, Ahmed Butti Ahmed, said the total value of Dubai’s imports from India reached $9.5 billion (35 billion dirhams) during the first six months of 2012. The imports primarily include diamonds, jewellery, electronic devices and mineral oil.

4.   

Saudi-India trade surges to exceed SR 137 billion

Saudi Arabia's trade with India has reached a new high with two-way commercial exchange exceeding SR 137 billion in the 2011-2012 financial year. Crude oil imports from the Kingdom form a major contribution in India's import trade basket as New Delhi set out a new vision to further broaden commercial cooperation, especially in agriculture, with renewed commitments to contribute to the global campaign to ensure food security.