Core industries index shows subdued growth with mixed sectoral performance and slower cumulative expansion trend
The Index of Eight Core Industries (weight 37.90% of IIP) recorded a combined index of 149.1 in January 2012 with 0.5% growth. The release provides monthly and cumulative April-January growth rates for Coal, Crude Oil, Natural Gas, Petroleum Refinery Products, Fertilizers, Steel, Cement, and Electricity, evidencing mixed sectoral performance and noting provisional data and a specific refinery throughput treatment.

Direct import of Aviation Turbine Fuel permitted for Indian carriers as actual users subject to authorisation and actual-use conditions.
Indian carriers may be authorised to import Aviation Turbine Fuel directly as actual users and on an actual use basis, deviating from the State Trading Enterprise regime; such authorisation is available under the enabling provision of the Foreign Trade Policy and must be obtained by applying in the prescribed format ANF 2 B on the trade authority's website.

Marine product export growth improves value realization and shifts market share toward South East Asia, driving promotional action.
Marine product exports during April-December 2011-12 rose in both quantity and value with improved unit value realization; frozen shrimp and fish led growth, Vannamei shrimp expanded sharply, while dried, chilled and live items declined. South East Asia became the largest market after significant increases in shipments and receipts, with EU, USA and Japan showing mixed growth and China declining. Trade pacts, regional raw material shortages and currency depreciation contributed to better rupee value realization. MPEDA and industry organisers scheduled the 18th India International Seafood Show to promote exports and market development.

Export promotion: measures to improve market access for Indian handmade carpets through duty relief, bonded warehouses and joint study.
India proposes trade facilitation measures to expand handmade carpet exports to China, including duty free entry for Indian exhibitors up to a restricted value, lower import duties on Indian handmade carpets, and establishment of a bonded warehouse facility in Xining to aid importers' distribution; a study group or joint working group on carpets is also proposed to advise both governments.

Import of sensitive items shows marked year on year increase driven by edible oil and broad commodity growth.
Import of sensitive items rose 42.3% in April-November 2011 to Rs.67263.75 crore, increasing their share of total imports from 4.4% to 4.7%. Growth was concentrated in edible oils (both crude and refined, driven by crude palm oil), fruits & vegetables, pulses, automobiles, rubber, SSI products, cotton & silk, spices, alcoholic beverages, marble & granite, and tea & coffee, while milk & milk products and food grains declined. The release provides provisional tariff-line level estimates showing commodity-specific contributions and country-source variations.

Trade growth shows sustained export expansion and wider import-driven deficit, highlighting sectoral shifts and provisional estimates.
India's exports rose in January 2012 and grew cumulatively April 2011-January 2012, but import growth outpaced exports over the same cumulative period, producing a larger trade deficit; sectoral detail highlights major export contributors (engineering, petroleum products, gems and jewellery, pharmaceuticals, leather, textiles, electronics, garments) and major import growth in petroleum, precious metals, machinery, electronics, chemicals and coal. The Commerce Secretary stated these are provisional estimates subject to change.

Trade agreement negotiations: BTIA talks aim to expand and diversify bilateral trade, fostering greater investment and cooperation.
India and the European Union advanced bilateral trade and investment discussions focused on progressing the proposed BTIA to expand and diversify trade, with leaders and delegations working to converge positions and resolve differences on trade-related issues to strengthen negotiation momentum and deepen economic cooperation.

Bilateral trade ties strengthened as India and Mauritius commit to expanding sectoral cooperation and FDI facilitation.
India and Mauritius reported expanding economic and commercial relations, with Mauritius a principal source of foreign direct investment into India and rising Indian investments in Mauritius. Both governments identified priority sectors for enhanced cooperation, including agro processing, manufacturing, pharmaceuticals, medical equipment, seafood, automobile parts, tourism, IT and Ayurveda. India agreed to provide special dispensation to Mauritius regarding export restrictions after lifting the non basmati rice ban, and Mauritius sought Indian support for skills development in gems and jewellery and capacity building in consumer protection and metallurgy.

Exemption from export bans allows essential commodities to cross borders under annual limits following official notification and exchange.
An official notification exempts specified essential commodities from export bans subject to annual quantity limits agreed by the importing party, while a Letter of Exchange and an amendment to the Letter of Guarantee implement designated exit/entry points and transit arrangements under the bilateral Trade, Commerce and Transit framework.

Bilateral economic cooperation expands into targeted investment and joint ventures, securing long-term fertilizer supply and pharmaceutical production partnerships.
India seeks investment-led expansion of bilateral economic cooperation with Belarus through Indian joint ventures in pharmaceutical production to localise up to half of Belarus' drug needs, and a long-term arrangement and joint venture proposals to secure potash fertilizer supplies; both countries agreed to form a Joint Working Group on Trade and Investment and to pursue trade promotion and expedited finalisation of outstanding bilateral agreements.