Cabinet okays FTA with Asean.

New Delhi: The Cabinet has approved free trade agreement between India and the Association of South East Asian Nations (Asean), sources said. "The pact was approved in the meeting today," sources said, adding approval paves the way for signing of the agreement between the two regions. The two sides were expected to sign the proposed pact on the sidelines of WTO meeting in Bali, but the process was delayed due to want of clearance from the Cabinet. The agreement will help boost movement of Indian professionals in the Asean region. pti

Minimum export price of onion cut by $450/tonne

New Delhi: Amid strong protest from farmers demanding removal of export restrictions, the government has sharply slashed the minimum export price for onions from $800 per tonne to $350 per tonne with immediate effect.

"Exports of all varieties of onions...will be subject to a MEP of $350 per tonne," the director general of foreign trade said in a notification. Early during the week, it had reduced the price to $800 from $1,150 a tonne.

In a statement, the commerce ministry said that the move will help in arresting the sharp decline in prices realised by the farmers while stabilise the onion prices in the domestic market. ens

Source : indianexpress.com