State-owned trading corporation profit and strategic diversification into new import commodities announced, expanding trade portfolio and operations.
State-owned trading corporation, under the administrative control of the Ministry of Commerce & Industry, reported a trading profit for 2012-13 and disclosed export and import turnover figures showing improved export performance relative to recent years. It announced an operational strategy to diversify beyond agricultural products into imports of coal, non-urea fertilizers, copper, and medical and engineering equipment, demonstrating corporate intent to expand its commodity import portfolio.

Trade and investment cooperation: talks to expand market access and energy resource collaboration under a duty free preference framework.
Bilateral economic engagement will be advanced through ministerial discussions to expand market access under the Duty Free Tariff Preference Scheme, promote trade facilitation and business promotion activities, and pursue sectoral cooperation. Energy and natural-resource collaboration-notably coal exports, commencement of mining and natural gas exploration-are distinct agenda items, supported by industry consultations to foster investment and trade.

Bilateral trade expansion agreed, including review of export restrictions and measures to facilitate investment and market access.
OVL's interest in Tanzania's licensing round was discussed alongside cooperative infrastructure and investment initiatives in energy and transport, capacity building offers including a proposed Gemology Institute, and bilateral commitments to increase trade. The JTC addressed regulatory trade issues: Tanzania agreed to consider revoking the ban on export of rough Tanzanite and India noted the beneficial effects of the Duty Free Tariff Preference scheme; India also raised concerns about high resident/work permit costs as a barrier to investment.

PFI status for infrastructure debt funds enables shelf prospectus filing and SARFAESI access, unlocking long term infrastructure finance.
Approval of measures to operationalize Infrastructure Debt Funds by capping the annual guarantee fee for IDF NBFCs in initial years and granting PFI-like benefits that allow IDF NBFCs to file a shelf prospectus and access SARFAESI enforcement and Debt Recovery Tribunals; institutional investors are permitted to invest in post-commissioned PPP projects, enabling mobilization of long-term capital, relieving banks' asset-liability mismatches, and expanding lending capacity for infrastructure.

Government approval for construction of national tax headquarters consolidates tax boards under one roof, promoting infrastructure efficiency
Approval was granted for construction of the Rajaswa Bhawan National Tax Headquarters on a 5.65-acre site to consolidate the Central Board of Direct Taxes and the Central Board of Excise and Customs into a single composite building, with an estimated capital cost, a 42-month construction period, DRDO appointed as construction agency, and a principal architect selected via a nationwide design competition. The design requires compliance with energy conservation and green building standards, fire protection, seismic safety per BIS codes, comprehensive waste management, and on-site sewage treatment with water recycling.

Trade imbalance measures expand Indian export access to China via MoUs and regulatory cooperation to facilitate market entry.
Measures to address the India-China trade imbalance focus on trade facilitation through bilateral Memoranda of Understanding and sectoral cooperation to expand Indian market access in China; fifteen MoUs were concluded across minerals, textiles, fisheries, agro-products and chemicals. Complementary regulatory cooperation, including pharmaceutical supervision and phytosanitary negotiations, and stronger institutional links between enterprises are intended to operationalise exports and reduce the bilateral deficit.

Countervailing duty investigation: no material injury finding prevents imposition of duties on frozen shrimp imports, preserving market access.
The US Department of Commerce determined countervailable subsidies for certain Indian shrimp producers and assigned cash deposit rates after verification and adjustments, but the US International Trade Commission found that US industry was neither materially injured nor threatened by the imports, precluding issuance of countervailing duty orders and thereby preventing collection of those duties on imports from India and the other investigated countries.

Market access for Indian pharmaceuticals urged, with a ministerial framework to fast track joint manufacturing and regulatory clearances.
India and Russia agreed a ministerial framework to track priority hi tech and industrial projects across sectors, formalising project identification, review mechanisms and joint venture facilitation to promote joint development, manufacturing and third country exports. India sought regulatory simplification and market access for its pharmaceutical manufacturers and expedited veterinary clearances for bovine meat and egg powder; Russia lifted certain import bans and agreed to review outstanding sanitary issues. Reviewed projects included the Jamnagar butyl rubber plant and joint manufacture of light helicopters, with mutual emphasis on FDI liberalisation and regulatory certainty to operationalise investments.

Monetary policy adjustment: repo rate raised while emergency lending rate eased and CRR maintenance relaxed to manage liquidity.
Reserve Bank reduces the marginal standing facility rate and the minimum daily CRR maintenance while raising the policy repo rate under the LAF, with corresponding adjustments to the reverse repo and Bank Rate, to begin calibrated unwinding of exceptional liquidity-tightening measures, restore the repo as the operational policy rate, anchor inflation expectations, and mitigate exchange market volatility; further actions will be data-contingent and two-way, though additional changes to the minimum daily CRR maintenance are not contemplated.

Carrying Indian currency: facilitation allows conversion in duty free areas while border export remains restricted for non residents.
Non-residents remain subject to a prohibition on carrying Indian currency beyond India; conversion of unspent rupees previously had to occur before the Immigration/Customs desk. The Reserve Bank authorised money changing facilities in Duty Free/security hold areas to allow conversion prior to boarding, clarifying this facilitation does not alter the export ban. Separately, the permissible currency amount residents may carry abroad has been increased to enhance flexibility for immediate personal expenses.

Service tax registration clearance ordered; pending applications must be resolved and reported to central headquarters.
Directives require Chief Commissioners and relevant directorates to take stock of and clear all pending registration applications for service tax, expedite processing to remove blocked revenue, and submit a prescribed-format electronic report to headquarters confirming actions and application status by the specified deadline.

Customs duty increase on jewellery aims to protect domestic artisans by restoring a tariff differential against cheaper imports.
Customs duty on articles of jewellery and on goldsmiths' or silversmiths' wares and parts has been increased by notification to restore a protective tariff differential against primary precious metals, aiming to protect labour intensive domestic jewellery makers and artisans from competition by cheaper, largely machine made imports.

Capital infusion to ensure bank capital adequacy and enable increased borrowings to support export finance projects.
Cabinet approval authorised a government capital infusion into the Export-Import Bank of India for 2013-14 and delegated future release authority to the Finance Minister; the infusion aims to ensure capital adequacy, enable higher borrowings through increased equity to support on lending for large overseas projects, and address constraints arising from the borrowing ceiling linked to net-owned funds, thereby supporting the Bank's loan portfolio growth consistent with its Medium Term Business Strategy while maintaining regulatory compliance.

Investment roadmap boosts export led manufacturing through business matching, institutional facilitation, and SME support for cross border exports.
The roadmap prioritizes export led manufacturing and sectoral investment support through JETRO led business matching and exhibitions, establishment of SME support platforms in Mumbai and Chennai, capacity building for export institutions and human resources via HIDA, dissemination of investment rules and facilitation through institutional exchanges, provision of investor information and temporary office space in Japan, promotion of India as an export base to neighbouring markets, and creation of one stop investment centres to advise on regulation, incentives and permits.

Ethoxyquin testing standards prompt Japan to commit to resolve shrimp import barriers by year end.
Japan committed to seek a solution by year end to import impediments created by new compulsory testing requirements for Ethoxyquin in shrimp, after Indian ministers urged expedited action noting Indian standards align with other sensitive markets. The Japanese Food Safety Commission's 2012 rule lowered permitted Ethoxyquin residues and mandated testing for shrimp consignments, a regulatory change that Indian authorities link to a decline in frozen shrimp exports and which is now the focus of bilateral engagement.

WTO regional trade policy capacity building strengthens officials' negotiation and analytical skills for trade policymaking.
The Regional Trade Policy Course is a two-month WTO-supported training jointly organized with the Centre for WTO Studies, IIFT, for government officials from developing, least-developed, transition and accession economies in the Asia-Pacific. Delivered by regional academics, trade specialists and WTO officials, the programme deepens understanding of the WTO and regional trade environments, builds analytical and negotiating skills, instructs effective use of trade documentation, and promotes networking among participants and experts.

Foreign Direct Investment approvals expand inbound investment via FIPB clearances and referrals to a higher economic committee.
FIPB cleared seventeen foreign direct investment proposals amounting to about Rs. 992.61 crore across pharma, NBFCs, telecom infrastructure, publishing, duty-free retail, courier services and a foreign-majority LLP; it deferred five proposals, rejected five seeking post-facto regularisation or capitalisation of pre-operative expenses, kept four in abeyance for further scrutiny, and recommended one high-value foreign-state-owned airline investment for CCEA consideration due to the investment exceeding the threshold for FIPB-alone approval.

Joint Economic and Trade Committee established to institutionalise trade cooperation and address services, data and food security concerns.
India and the Netherlands will establish a Joint Economic and Trade Committee to institutionalise engagement on investment and trade and potentially upgrade it to a Joint Economic Council; cooperation priorities include water management, agro processing, urban infrastructure, waste management, agriculture and healthcare. Both sides emphasised concluding a broad trade framework, stressing the importance of Mode IV in services and data secure status, and discussed WTO level treatment of food security, urging consideration of the G 33 proposal alongside balanced Trade Facilitation measures.