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Prime Minister Manmohan Singh seeks consensus on trade policy

-The Economic Times Prime minister Manmohan Singh is meeting a group of ministers including Finance Minister Pranab Mukherjee, Agriculture Minister Sharad Pawar, Food Minister KV Thomas and Commerce Minister Anand Sharma to arrive at a consensus on trade policies especially in sugar and cotton exports. Recently, Pawar had criticized the export policies of cotton and sugar. The sugar export is a contentious issue as even after having a surplus production and international...

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US trade opposes total FDI ban in India's tobacco sector

-PTI Five American trade bodies, including USIBC, have joined hands to oppose efforts of the Indian government to further restrict participation of foreign companies in India's tobacco market. According to reports, the India's Commerce Ministry, on the request of Health Ministry, has proposed to put a complete FDI ban in the sector. Currently, foreign direct investment (FDI) is completely prohibited in manufacturing of tobacco and its substitutes, while such investments are allowed up...

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India has the scope to export 2-2.5 mn bales of cotton: Agriculture ministry-Sanjeeb Mukherjee

The agriculture ministry has said the country still has the scope to export another 2-2.5 million bales of cotton if fresh registrations for export are allowed in the coming weeks. The ministry, which has been strongly opposed to the current cap on exports at 12.5 million bales, is of the opinion that if exports are re-opened at this juncture, only 2-2.5 million bales can be exported. The remaining cotton, from the...

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EGoM to discuss issues raised by Pawar

-The Hindu The Empowered Group of Ministers (EGoM) on Food will meet soon following a letter by Union Agriculture Minister Sharad Pawar to Prime Minister Manmohan Singh on curbs over milk, cotton and sugar exports. The EgoM is headed by Union Finance Minister Pranab Mukherjee. Mr. Pawar shot off the letter to the Prime Minister after the EGoM disallowed export of cotton beyond 13 million bales for the current marketing year the...

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Offset ban on cotton export by raising floor price by 10%: CACP-Nidhi Nath Srinivas

The government should immediately announce a 10% increase in the floor price of cotton and rice to protect farmer incomes if it imposes a ban on the export of these commodities, India's two most economically significant cash crops, according to the Commission of Agricultural Costs and Prices (CACP), a body which advises the government on the pricing policy for major farm produce. "Any ban on export is an implicit tax on...

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