Trace and track surveillance for pharmaceutical exports required; exporters must adopt GS1 packaging standards and enable product traceability.
The Director General of Foreign Trade mandated a trace and track surveillance system for all pharmaceutical and drug exports, requiring GS1-compliant labelling at primary, secondary and tertiary packaging levels to enable traceability to the manufacturer; exporters must adopt these packaging and tracking obligations and comply by the notified implementation date.

Presidential Award of Appreciation recognises exceptional meritorious service and distinguished public service in customs and enforcement.
Announcement of conferment of the Presidential Award of Appreciation Certificate to Customs & Central Excise and Enforcement officers for exceptionally meritorious service and specially distinguished records, with one recognised for risking life and others for sustained exemplary service. The Finance Minister emphasised departmental modernisation via IT initiatives, preparedness for GST, a shift to non tariff enforcement challenges including smuggling of hazardous and protected items, and the need for technology, intelligence networks, international cooperation under Customs Mutual Assistance Agreements and capacity building to balance trade facilitation with vigilant enforcement.

Greater integrity in real estate urged; sector must adopt socially sensitive, ethical development and marketing practices.
The Finance Minister highlighted substantial growth in Chennai air cargo trade and emphasized infrastructure priorities including port capacity augmentation via public private partnership, and separately urged greater integrity in development, construction and marketing of real estate, calling on the sector to prioritise the social dimensions of housing and to adopt strong ethical practices.

Tax collection targets raised, with renewed emphasis on service tax growth and expedited GST implementation to boost revenues.
The central government has directed an upward revision of tax collection targets and instructed tax administrations to prioritise increased service tax collections, while emphasising expedited implementation of the GST regime and administrative resolution of its implementation hurdles.

CEPA-driven trade liberalisation to double bilateral trade and attract substantial Korean investment over coming years
The CEPA with the Republic of Korea is identified as the primary mechanism for tariff liberalisation and services expansion to raise bilateral trade to US$30 billion by 2014, while India solicits Korean participation in large-scale infrastructure and manufacturing projects-including POSCO, National Manufacturing Investment Zones, and the Delhi-Mumbai Industrial Corridor-to attract substantial FDI, generate employment, and enhance regional industrial and logistics linkages.

Indirect tax collections rose markedly, meeting a substantial portion of the fiscal year budget estimates for the April-December period.
Indirect tax collections rose markedly in April-December 2010, achieving about three quarters of the fiscal year Budget Estimates; Customs showed the largest year on year increase and the highest proportion of its estimate, Central Excise expanded materially and covered a substantial share, and Service Tax grew more modestly and accounted for a smaller share, with provisional comparative figures and growth rates presented for each head and in aggregate.

Pre budget consultation seeks economist input to balance fiscal consolidation and inflation risks while promoting inclusive growth.
Pre Budget consultation sought economist inputs to shape Union Budget 2011 12, reporting broad based economic recovery and specifying a calibrated exit from stimulus in line with medium term fiscal consolidation. The Minister highlighted macroeconomic challenges-fragile global recovery, rising commodity and food prices, and volatile capital flows-and requested recommendations to balance support for growth with price stability while prioritising inclusive development through improved health, education and skills investment.

Tariff values notified for edible oils, brass scrap and poppy seeds under Notification No.1/2011, Customs.
Notification No.1/2011 Customs (N.T.) dated January 14, 2011 fixes tariff values in US$ per metric tonne for specified imports, listing edible oils (with values unchanged), Brass Scrap (all grades) and Poppy Seeds and providing the tariff valuation figures for customs assessment.

Foreign direct investment approvals authorised across sectors while several proposals deferred for policy and compliance scrutiny.
Nineteen foreign investment proposals were approved by the Foreign Investment Promotion Board permitting induction of non-resident equity, issuance of warrants and establishment of wholly owned subsidiaries across multiple sectors, with sector specific conditions noted. Sixteen proposals were deferred pending further scrutiny of foreign equity increases, WOS formations, ex post approvals and participation in sensitive sectors where policy restrictions or factual disputes apply. Two proposals were rejected and one withdrawn under applicability of Consolidated FDI Policy provisions.

Employment and skill development drive pre-budget consultations to promote inclusive growth and enhance youth employability.
Pre-budget consultations with trade unions focused on employment as central to inclusive development, balancing growth with sustainability. The Finance Minister outlined a multi-pronged strategy to reduce poverty and expand access to health and education, emphasising empowerment via education and the National Skill Development Mission to raise employability. He cited increased allocations for anti-poverty programmes and the need for improved implementation, noted the administrative role of unique identity numbers for better targeting, and referenced Labour Bureau reports and sectoral employment gains as indicators of recovery, inviting trade union suggestions for budget measures.

Investment and trade potential between India and South Africa urged to be unlocked, with PTA and sectoral cooperation driving growth.
Huge untapped investment and trade potential exists between India and South Africa, with calls to diversify sectoral engagement into construction, mining, renewable energy and space science. The note urges early conclusion of an India-SACU Preferential Trade Agreement to boost trade in pharmaceuticals, machinery and automobiles, and highlights MMTC's new Johannesburg office to strengthen direct sourcing of metals, minerals, rough diamonds and coal, including joint exploration ventures and pan African business outreach.

Import trends of sensitive items show sectoral shifts: crude edible oil up, refined oil down and mixed commodity movements.
Imports of designated sensitive items rose in April-October 2010 versus the prior year, increasing by about fourteen percent while representing a marginally smaller share of gross imports. Commodity movements were mixed: declines occurred in pulses, fruits and vegetables, cotton and silk, spices and tea and coffee, while edible oil, automobiles, rubber, SSI products, milk and milk products, marble and granite, alcoholic beverages and food grains increased. Edible oil imports shifted toward higher crude and lower refined oil, largely due to increased soya-bean crude oil imports, and country-level import flows showed both increases and decreases across trading partners.

Export growth signals strong trade recovery; imports declined and trade deficit narrowed on quick-estimate data.
Exports showed a strong monthly and year to date increase through April-December 2010, reaching the highest monthly export level in 33 months while December imports declined and the monthly balance of trade was the lowest in three years; the published numbers are quick estimates subject to change. Sectoral gains driving export growth included engineering, gems and jewellery, petroleum and products, leather products, carpet, plastics and linoleum, cotton yarn, and chemicals.