India, China to benefit from relaxing of export controls lead by the US

Emerging nations like India and China will be able to access more easily some of the advanced technologies from the US as the latter tries to loosen its stringent export control regime in a move aimed at boosting its exports and correcting its huge trade deficit against emerging nations.

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Euro crisis unlikely to hit India’s exports: Commerce Ministry

India’s commerce ministry has said that it will keep a close eye on the euro zone sovereign debt crisis, though it expects the same not to impact India’s exports at this stage. European Union is India’s biggest trading partner and any significant decline in demand from there can cause major trouble for the third largest economy in Asia.

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Government notifies BS III implementation from October

After much wait and confusion, Government has notified that the proposed Bharat Stage (BS) III emission norms will be implemented in India from October 1, 2010. Two and three-wheelers will now have to comply with the BS-III norms with retrospective effect from April 1 in the top 13 cities, including Delhi, Mumbai, Kolkata, Chennai and Bangalore. Government has further specified that Sholapur and Lucknow will upgrade to BS-IV norms for four-wheelers from June 1 this year.

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3G Revenue to Help Cut Market Borrowings

The Indian government said on Monday that higher-than-expected revenue from the auction of the third generation (3G) spectrum will help lower the record market borrowings that it had announced in general budget for the current fiscal year.

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Government Releases Draft Regulatory Reform Bill

The government has put in public domain a draft regulatory reform bill, which aims at setting up commissions to oversee the regulations in 12 infrastructure sectors, including power, airport and gas. The commissions are expected to result in a faster decision-making regime in the infrastructure sector, thus helping the country to address the massive gaps in physical infrastructure which could derail India from a high growth trajectory.

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Government Allows Cotton Exports Under License

The Indian government on Friday allowed exports of cotton under license just as new plantings begin. The move by the world’s second-largest supplier is aimed at striking a balance between ensuring availability of the raw material for the local textile industry at reasonable prices and higher remuneration for farmers.

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After Marathon 3G, the BWA Auction Starts Today

After the marathon third generation (3G) spectrum auction, the government will start on Monday the auction of wireless broadband access (BWA) spectrum with 11 bidders in the contest, said the Department of Telecommunications (DoT) on Friday. The government has also officially approved the results of 3G auction on Friday and has given time till May 31 for successful participants to pay the bid amounts.

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Sugar Industry Seeks Decontrol as Prices Crash

India’s sugar industry is now seeking a decontrol of the sweetener in wake of sharp plunge in prices resulting apprehension of losses. Currently, the government imposes a variety of controls over the commodity to influence its supply and hence price, but does not determine the price itself.

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PSU Telcos Not to Get Exemption From 3G Payment

The public sector telecom companies BSNL and MTNL will not be getting exemption from the payment for the third generation (3G) spectrum. The finance ministry had earlier stated that there was no reason for PSUs to not pay for the spectrum for which all other operators will be paying.

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Law ministry approves screen test for FDI

The law ministry has given its approval for the long-pending proposal of enacting a new law to screen foreign direct investment (FDI). A final call is awaited for the proposed legislation and the final draft is expected to come out by the year-end after which it will be placed before Parliament for approval.

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