Broad-based Trade and Investment Agreement aims to expand market access and diversify bilateral trade and investment sectors.
Negotiations target a balanced, ambitious Broad-based Trade and Investment Agreement (BTIA) between India and the EU by early 2012 to enhance reciprocal market access in goods and services, relying on predictable and stable regulatory arrangements to facilitate private-sector participation. The statement identifies sectoral priorities for trade diversification-communication, pharmaceuticals, biotechnology, chemicals, automotive parts, energy, ports, construction, banking and finance, electronics and software, fertilizers and renewable energy-and highlights infrastructure investment opportunities across highways, power, railways, airports, ports, waterways and industrial facilities.

Account payee crossing requirement: banks must issue demand drafts above the specified threshold with crossing to prevent cash misuse.
Banks must issue demand drafts of Rs. 20,000 and above with account payee crossing to prevent their misuse as substitutes for cash; uncrossed drafts used to transfer money should be avoided, and crossed instruments must be credited to the payee's account rather than paid in cash over the counter.

Cheque presentment period shortened - banks barred from paying instruments presented beyond the revised three-month presentment timeframe.
Banks are directed to refuse payment of cheques, drafts, pay orders and banker's cheques dated on or after the effective date if presented beyond three months from the date of the instrument; banks must ensure strict compliance and notify holders by printing or stamping presentment instructions on instruments issued on or after that date.