India, China to be world’s largest trading partners by 2030 says India’s industry association ASSOCHAM

Export grows 10.8% in October at $ 19.9 billion
India’s exports have registered a growth of 10.8% during October 2011, at US $ 19.9 billion. Imports in October 2011 stood at 39.5 Billion US$ registering a growth of 21.7%. Balance of Trade for the period was (-) 19.6 Billion US$. Cumulative Export figures for the period of April to October 2011 stood at 179.8 Billion US$ registering a growth of 46%. Imports for the same period stood at 273.5 Billion US$ registering a growth of 31%. Balance of trade for the period stood at (-) 93.7 Billion US$.

During April-October 2011, the following sectors have done well viz., engineering, (US $

India Calls for Breaking Trade and Investment Barriers in the Shanghai Cooperation Organisation zone
Power Minister Sushilkumar Shinde represented India at the annual meeting of the Shanghai Cooperation Organisation (SCO) Heads of Government in St. Petersburg on 7th November 2011. Making a statement on behalf of India, Shri Shinde called for breaking barriers that inhibit trade and investment flows between the countries in the SCO zone. He said SCO should address the problem of limited connectivity through regional solutions. He said that India was ready to cooperate to find viable solutions to this problem and contribute to the endeavour to build bridges between Central and South Asia.

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Indian exporters to get $ 183 million bonanza to beat the impact of global financial meltdown
Indian government has announced a special assistance over $ 183 million (Rs. 900 crore) to help exporter meet the challenges arising out of global economic conditions. Commerce and Industry Minister Anand Sharma announced the new measures that are part of the annual supplement of the Foreign Trade Policy.

Special assistance scheme is applicable to exporter of to engineering, pharmaceuticals and chemical sectors. Under this scheme, fifty products in these sectors will get special bonus of additional one per cent of export value between October and March this fiscal. The minister has introdu

India’s export registers 52 percent growth during H1 2011
India’s exports for the month of April- September 2011 have registered a growth of 52 percent, at $ 160 billion. Interacting with the media persons here today, Rahul Khullar, Commerce Secretary, informed that during the period April-September 2011, the imports were $ 233.5 billion with a growth of 32.4 percent. This resulted in the trade deficit of $ 73.5 billion. India’s imports in September 2011 were $ 34.6 billion and export stood at $ 24.6 bn.

During April-September 2011, the engineering exports were worth $ 46.4 billion registering a growth of 103 percent. India exported petroleum & o

India-Czech trade to touch $ 2 billion by 2012
Indian-Czech trade ministers have agreed to take the bilateral trade to $ 2 billion by 2012 from current level of US $ 1.3 billion which in itself is an increase of 26% from the earlier year. The Czech Minister for Industry & Trade, Martin Kocourek, met his Indian counterpart Anand Sharma with a high-level Czech delegation here today.

Sharma also stressed the need of a liberal visa regime for business people and suggested that a system of issue of long-term business visa on the recommendations of apex business chambers should be put in place. The Czech Minister agreed that visa regime needs

Germany registers 14.6 percent export growth despite tough economic conditions
Germany’s exports increased by 14.6% and imports by 12.6% in August 2011 compared to August 2010. Upon calendar and seasonal adjustment, exports rose by 3.5% and imports remained unchanged on July 2011. The Federal Statistical Office (Destatis) data showed the foreign trade balance showed a surplus of Euro 11.8 billion in August 2011. In August 2010, the surplus amounted to Euro 9.2 billion. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of Euro 13.8 billion in August 2011.

In August 2011, Germany dispatched commodities to the value of Euro 48.7 bill