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Govt okays 26 foreign tech tie-ups, 25 industrial licences

The Centre has approved 26 cases of foreign technology collaboration and granted industrial licences to 25 cases. Textiles is one of the main sectors where industrial licences were granted.

The proposals include tie-ups of Reliance Industries with Dow Global Technologies, USA, for manufacture of polymers of propylene and with Bechtel France SAS, UK, for paraxylene.

Sri Lanka to set up separate zone for Indian investors

Sri Lanka will set up a separate industrial zone for Indian investors following a request from the new Congress-led UPA government, the investment promotion minister Mr Anura Bandaranaike said. Sri Lanka will also set up a separate desk at the Board of Investment here to facilitate Indian firms interested in investing in the island. The minister said he was considering a similar request from China, although the quantum of investments from China was much smaller. Indian investment in Sri Lanka had recorded a five fold increase last year.

Bulgaria offers to become India’s "door" to EU

Bulgaria has offered to become India’s "door" to the European Union as the two countries agreed to upgrade bilateral economic ties.

The Bulgarian foreign minister Mr Solomon Passy in a meeting with his Indian counterpart Mr K Natwar Singh said joint economic commission of the two countries would meet in November this year to identify areas of cooperation and chalk out specific strategies. Assuring all institutional investment support, Bulgaria asked India to explore new business opportunities there as it is expected to join the European Union in 2007 and could become the entry-point for Indian companies in Europe. Currently, India ranks sixth among the Asian trade partners of Bulgaria with the former’s export to this country standing at a mere four per cent of the total exports to the Asian region while imports stand at three per cent. The total volume of trade between the two countries per annum is just around US$ 23 million.

Product list, text of ROO being discussed in PTA with MERCOSUR

The government has entered into a preferential trade agreement with MERCOSUR countries and two lists of products, texts on rules of origin, safeguard measures and dispute settlements are being negotiated at present. The minister of state for commerce Mr E V S K Elangovan said, "The PTA aims at expansion of bilateral trade by granting fixed tariff preferences to certain products as a first step towards creation of a free trade area between India and MERCOSUR."

On trade promotion between India and Brazil, he said Brazil was a member of MERCOSUR and the PTA aimed at increasing bilateral trade through mutual grant of tariff preferences.

He further informed that India and Bangladesh have decided to have further discussions so as to jointly explore the possibility of an FTA. India has requested the Bangladesh government to provide its formulations on the various issues and any negotiations on entering into such an FTA will consider identifying items for enhancing bilateral trade.

He said the government had commissioned studies to various research institutions on the impact of agreement on agriculture at WTO.