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Jan 19, 2014

India, Pakistan for greater trade through Wagah border

NEW DELHI (Reuters) – India and Pakistan agreed on Saturday to allow round-the-clock movement of trucks and containers through their main border crossing, signalling a thaw in relations after a year’s standoff over military tensions on the border.

Trade ministers of the two countries meeting in New Delhi also approved a liberalised visa policy for businessmen to help expand two-way trade, which was barely $2.5 billion in 2012/13 fiscal year against a potential $10 billion.

Jan 18, 2014

India, Pakistan to allow greater trade through land route

NEW DELHI, Jan 18 (Reuters) – India and Pakistan agreed on
Saturday to allow round-the-clock movement of trucks and
containers through their main border crossing, signalling a thaw
in relations after a year’s standoff over military tensions on
the border.

Trade ministers of the two countries meeting in New Delhi
also approved a liberalised visa policy for businessmen to help
expand two-way trade, which was barely $2.5 billion in 2012/13
fiscal year against a potential $10 billion.

Jan 16, 2014

Richemont seeks entry into India’s luxury retail market

NEW DELHI/PARIS, Jan 16 (Reuters) – Luxury goods group
Richemont, whose stable of brands includes jewellers
Cartier and Van Cleef & Arpels, has applied to open shops in
India, joining other global retailers who entered the market
since New Delhi relaxed investment rules.

The entry could be a boost for the country’s luxury retail
sector, which represents a tiny fraction of global luxury
brands’ sales but has a fast-rising number of wealthy people.

Jan 13, 2014

AAP shelves foreign supermarket entry into Delhi

NEW DELHI (Reuters) – The newly elected state government in New Delhi on Monday barred foreign supermarkets from setting up shop, a blow to Prime Minister Manmohan Singh’s efforts to attract overseas investment and revive the economy.

Singh had thrown open the country’s $500 billion retail industry to foreign investors in late 2012, allowing companies such as Wal-Mart Stores Inc(WMT.N: Quote, Profile, Research) and Tesco PLC(TSCO.L: Quote, Profile, Research) to own a majority stake in local chains for the first time.

Jan 13, 2014

India anti-graft party shelves foreign supermarket entry into Delhi

NEW DELHI (Reuters) – The newly elected provincial government in India’s national capital on Monday barred foreign supermarkets from setting up shop, a blow to Prime Minister Manmohan Singh’s efforts to attract overseas investment and revive the economy.

Singh had thrown open the country’s $500 billion retail industry to foreign investors in late 2012, allowing companies such as Wal-Mart Stores Inc and Tesco PLC to own a majority stake in local chains for the first time.

Jan 9, 2014

Government to seek foreign investment in giant, creaking rail network

NEW DELHI (Reuters) – India will soon invite foreign businesses to help expand its once-mighty but now outdated railways, government sources said, in a move that would mark the opening up of one of the country’s last great state-controlled industries.

Foreign investors will be allowed to fully own new services in suburban areas, high speed tracks, and connections to ports, mines and power installations, said two senior officials involved in the deliberations.

Jan 9, 2014

India to seek foreign investment in giant, creaking rail network

NEW DELHI (Reuters) – India will soon invite foreign businesses to help expand its once-mighty but now outdated railways, government sources said, in a move that would mark the opening up of one of the country’s last great state-controlled industries.

Foreign investors will be allowed to fully own new services in suburban areas, high speed tracks, and connections to ports, mines and power installations, said two senior officials involved in the deliberations.

Jan 6, 2014

India considers easing gold import curbs -govt sources

NEW DELHI, Jan 6 (Reuters) – Indian officials are in
discussions to cut a record high import duty on gold and relax
rules on exports, government sources said, after the measures
helped narrow the country’s trade deficit and now threaten to
encourage smuggling.

India imposed the curbs last year when overseas gold
purchases – the country’s second most expensive import after oil
- pushed its current account deficit to a record and undermined
the rupee currency.

Dec 17, 2013

Gold import curbs to stay despite easing trade gap

MUMBAI/NEW DELHI (Reuters) – India will keep a tight leash on gold imports despite a recent improvement in its trade deficit and lobbying by a bullion industry struggling with high premiums and a supply crunch.

The government is worried the trade gap could worsen again and the currency could weaken as the U.S. Federal Reserve looks set to start tapering its economic stimulus soon.

Dec 17, 2013

India to keep gold import curbs despite easing trade gap

MUMBAI/NEW DELHI, Dec 17 (Reuters) – India will keep a tight
leash on gold imports despite a recent improvement in its trade
deficit and lobbying by a bullion industry struggling with high
premiums and a supply crunch.

The government is worried the trade gap could worsen again
and the currency could weaken as the U.S. Federal Reserve looks
set to start tapering its economic stimulus soon.