Tariff values notified for edible oils, brass scrap and poppy seeds under customs notification, affecting import valuation.
Notification No.63/2011-Customs (N.T.) fixes tariff values in US dollars per metric tonne for specified imported goods, listing values for various edible oils (with most oil entries unchanged), brass scrap (all grades) and poppy seeds; these figures are to be applied as import valuation benchmarks for customs assessment and compliance.

Bilateral trade target accelerated by joint recommendations to remove tariff and visa constraints and boost investment flows.
The Forum reviewed recent growth in bilateral trade and investment and presented sectoral recommendations addressing tariff barriers, visa constraints, technology transfer and other impediments. Ministers committed to expedite Preferential Trade Agreement negotiations and to establish a friendlier business visa regime, endorsing operational steps to promote two way investment flows and convert CEO proposals into governmental action to deepen economic engagement.

Negative list taxation of services expands the tax net by taxing all services except specified exclusions, preserving input tax credits.
Adopts a negative list approach: all supplies meeting the defined "supply of service" are taxable unless expressly excluded. "Service" is defined as anything other than goods, money or immovable property, with specific inclusions (e.g. right to use immovable property, temporary transfer of intellectual property, hire/lease services) and exclusions (completed sale of immovable property, employee-to-employer services, constitutional authorities, supplies chargeable as excisable goods). The approach aims to widen the tax base, preserve input tax credits, address mixed supplies by dominant-nature tests, and requires changes to import/export, Cenvat, Service Tax and Point of Taxation rules.

Marine product exports post robust growth led by shrimp and market diversification, prompting an elevated national export target.
Marine products exports in 2010-11 rose to 813,091 tonnes and exceeded US$ 2.8 billion, led by frozen shrimp as the principal value item; growth was driven by expanded Vannamei shrimp production, improved Black tiger shrimp productivity, higher unit values for key species, and stronger price realization. Fish remained the largest export by quantity. Market diversification saw the EU as the largest market by value with strong increases to the US, Southeast Asia, Middle East and Africa. MPEDA set an export target of US$ 4 billion for 2011-12.

Anti corruption reform: government urges Lokpal debate, procurement and administrative measures to curb misuse of public office.
The Government commits to statutory and administrative measures to reduce corruption: pursue Lokpal legislation through parliamentary debate and Standing Committee consideration alongside civil society drafts; limit discretionary powers of ministers via Cabinet action on a review group's recommendations; enact public procurement reform; strengthen regulatory oversight in limited competition infrastructure sectors; and work with States to plug leakages in Central programmes, notably to restore integrity in the Public Distribution System.

Export promotion schemes support cashew exporters through market development, technology assistance and eligibility for DEPB and VKGUY.
Aggregate annual export quantities and values for cashew nuts are reported (source: DGCI&S) and state-wise breakdowns are not centrally maintained. The Cashew Export Promotion Council administers export-promotion activities and implements programmes to improve processing and kernel quality under Department of Commerce schemes, notably Marketing Development Assistance, Market Assessment Initiatives and ASIDE, while registered exporters remain eligible for DEPB and VKGUY.

National Manufacturing Policy to establish NIMZs and boost manufacturing-led employment through integrated zones and institutional reforms.
Cabinet submission has been made for a National Manufacturing Policy to expand manufacturing's economic share and create large-scale employment by establishing world-class manufacturing infrastructure and integrated National Investment and Manufacturing Zones (NIMZs), supported by social and institutional measures. The announcement highlights export diversification and targeted sectoral plans to grow high-end manufacturing exports, notes active industry-government engagement with measures under implementation, and affirms commitment to institutional robustness and rule-based governance, citing government action in a major corporate fraud as evidence of enforcement.

Denotification of SEZs: approval conditioned on refund of duty benefits where claimed, citing economic and fiscal causes.
Denotification of SEZs has been approved by the Board of Approval with each approval conditioned on the refund of duty benefits availed by the developer where applicable; applicants cited economic downturn, weak market demand, skilled labour shortages, and imposition of Minimum Alternate Tax and Dividend Distribution Tax as reasons for surrendering SEZ status.

Transaction cost reduction improves export competitiveness through Task Force recommendations and administrative simplification.
A Task Force on transaction cost was set up to identify procedural bottlenecks affecting exports and imports and to recommend remedial measures. It produced 44 recommendations for various ministries and departments; 23 recommendations have been implemented, yielding an estimated aggregate reduction in transaction costs through procedural simplification, administrative reforms, and enhanced trade facilitation.

Export licensing: basmati rice requires APEDA registration under Open General License; non-basmati diplomatic exports limited to State Trading Agencies.
The regulatory regime distinguishes rice categories: basmati exports require prior APEDA registration under an Open General License, while non basmati diplomatic exports are reserved to State Trading Agencies. Administrative measures were taken where irregularities were alleged, including show cause notices, debarment from departmental transactions, initiation of departmental action following vigilance advice, and referral for criminal investigation.

De-notification of SEZs: approvals granted under SEZ Act subject to refund of duty benefits and statutory conditions.
De-notification and withdrawal requests for SEZs are considered by the Board of Approval under the SEZ Act and Rules, with de-notification approvals granted subject to conditions including refund of duty benefits availed by the developer; applicants cite economic downturn, weak market demand, skill shortages, lack of IT/ITES demand and the imposition of MAT and DDT as reasons. There is no proposal to review minimum space criteria for SEZs.

Minimum Export Price requirement for non-basmati rice tied to registration, LC and 10% performance guarantee.
Export of one million metric tons of non-basmati rice was authorised subject to a Minimum Export Price and private commercial sales; DGFT required prior registration via an initial e-mail intent on a first-come-first-served basis (only first submission per IEC), irrevocable confirmed letters of credit, and a performance bank guarantee equal to 10% of applied quantity with +/-5% tolerance; maximum per applicant capped at 1.25% and allocations were issued with a waitlist though an interim court order stayed allotments.

Lokpal legislation proposed to strengthen anti-corruption framework and complementary Bills to enhance accountability and procurement transparency.
The address proposes a multifront anti-corruption programme including a Lokpal Bill, a Judicial Accountability Bill that preserves judicial independence, curbs on discretionary allocations, and a public procurement law to regulate government purchases; it stresses improved justice delivery, RTI-enabled oversight, and political consensus. Concurrently it pledges statutory and programmatic reforms: a food security law, a Land Acquisition and Rehabilitation law safeguarding livelihoods, expanded health insurance for unorganized workers, Rajiv Awas Yojana for urban housing, an education commission and prioritized health funding. It also commits to infrastructure acceleration, oversight for regulatory authorities, and creation of an environmental assessment and monitoring authority.

Export growth drives sharp rise in trade volumes, widening trade deficit and uneven sectoral outcomes reported.
India's merchandise exports rose 81.8% in July 2011 to US $29.3 billion and reached US $108.3 billion for April-July (c.54% growth) against imports of US $151 billion (c.40% growth), producing a trade deficit of US $42.7 billion; July's monthly deficit was US $11.1 billion. Strong export gains occurred in engineering, gems & jewellery, petroleum products, electronics, readymade garments, manmade yarn and leather, while iron ore, fruits & vegetables and tobacco lagged. Imports were driven by POL, pearls and precious stones, gold and silver, machinery and electronics. Figures were described as provisional estimates subject to revision.

Most Favoured Nation status recognized as central to trade expansion, with commitment to replace positive list by deadline.
Parties agreed to improve trade infrastructure and land route connectivity, promote private sector IT cooperation, facilitate Business Visas, and enable trade in electricity, Bt cotton seed and petroleum products. Joint Working Groups were established for Customs cooperation, electricity trade, petroleum trade, and Economic and Commercial Cooperation & Trade Promotion to review implementation. Pakistan recognized that granting Most Favoured Nation status would assist bilateral trade and committed to replace its Positive List with a Negative List by the agreed deadline.

Ore swap provision permits exporting high-alumina ore only after equivalent imported low-alumina ore is brought in.
The agreement allows limited export of high-alumina iron ore by swapping it for imported low-alumina ore used for blending to improve steel quality and conserve energy; any swap-based export is permitted only after an equivalent quantity of low-alumina ore has been imported for the plant and operates within the MoU's fixed term.

Trade promotion measures mobilised to counter export decline and restore market access for tea exporters.
The Government, through the Tea Board, is implementing export promotion measures to counter a decline in tea shipments caused by geopolitical disturbances, payment difficulties and non tariff barriers; measures include promotional campaigns, Buyer Seller Meets, Tea Tasting Sessions, Trade Fairs, International Conventions, incentives to exporters and marketing support.

Special provisions for developing countries shape trade liberalisation, affecting tariff flexibility and safeguard measures for agriculture and industry.
Draft WTO modalities propose special provisions for developing countries in agriculture-lower tariff cuts, self-designation of Special Products, and a Special Safeguard Mechanism-to protect sensitive producers; parallel industrial goods proposals for deeper, sectoral tariff cuts risk tariff inversion, revenue loss and constrained flexibility, prompting India to seek non-mandatory, good-faith approaches and coordinate with developing-country coalitions to safeguard vulnerable sectors.

Bilateral trade balance with China: measures to diversify exports and secure increased Chinese imports to reduce deficit.
Efforts to balance bilateral trade with China concentrate on increasing India's export share and diversifying into manufactured goods to reduce a growing trade deficit; a Memorandum of Understanding following intergovernmental discussions secured a Chinese assurance to raise imports from India, while Indian companies are being encouraged to showcase products at major Chinese trade fairs to expand market access.

Free Trade Agreement with Australia seeks to address sanitary and technical trade barriers and investment, services, and student residency concerns.
Negotiations for a Free Trade Agreement with Australia focus on addressing Sanitary and Phytosanitary measures and Technical Barriers to Trade as principal impediments to goods trade, alongside parallel negotiation strands on investment and services. The process includes consultations with trade and industry associations, Export Promotion Councils and concerned central ministries, plus regional meetings to obtain State Government inputs on provisions that may affect sub national interests; education related issues such as student safety, residency and employment are also included in negotiation priorities.