India has set an ambitious target to quadruple annual information technology exports to $50 billion by 2010 from $12.5 billion at present.
The government will announce the annual Foreign Trade Policy on April 8, which will aim at giving a boost to exports of pharmaceutical, auto components and services.
The DMK parliamentary party appears to be a house divided, reports R Rajagopalan.
India on Wednesday said that developed and developing countries should now 'close their differences' and move forward after the Cancun debacle but felt more 'transparency' in decision-making process was needed at the WTO to help towards this end.
Contraction in exports continued for the 12th month in a row in November as outward shipments shrank 24.43 per cent to $ 20.01 billion amid a global demand slowdown.
China on Wednesday said it would levy anti-dumping tax on chloroform imported from India, the US, European Union and South Korea ranging from 32 to 96 per cent for the next five years.
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Exports picked up to post a growth of nearly 13 per cent.
The textiles ministry is in favour of a reduction in textiles tariffs under ongoing World Trade Organisation negotiations on market access, but said overall reduction in the case of developing countries should be lower than developed countries.
The trade gap - difference between imports and exports - was $11.39 billion in March 2015.
Government has initiated an anti-dumping investigation against imports of Titanium Dioxide from China.
Between 2007-08 and 2017-18, the number of countries they imported steam coal from has increased from six to 12.
Legal sector may be opened up for foreign investment.
Last year, the commerce ministry announced that Status holders (ie recognised export houses, trading houses etc), who achieved a minimum annual export growth of 25 per cent (a minimum of Rs 25 crore) could earn Duty Free Import Entitlement Certificat
As a prelude to the proposed Free Trade Agreement, India and Bangladesh have agreed on a revised draft of bilateral trade agreement signed in 1980.
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