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English Release 2-March 2015
Date Month Year
  • President's Secretariat
  • President of India to present the standard to 21 SQN & 116 HU of Indian Air Force
  • Min of Agriculture
  • Siraj Hussain Assumes Charge as Secretary, Department of Agriculture and Cooperation
  • Ashok Kumar Angurana assumes Charge as Secretary, Department of Animal Husbandry, Dairying and Fisheries, Ministry of Agriculture
  • Min of Coal
  • Coal to Liquid Pilot Project
  • Production of Coal from Underground Mines
  • Min of Commerce & Industry
  • Cement Industry Should Grow by 20-25 Percent over the next three Decades – DIPP Secretary
  • Min of Food Processing Industries
  • Shri Ranglal Jamuda Assumed Charge as Secretary, Ministry of Food Processing Industries
  • Min of Micro,Small & Medium Enterprises
  • Products under MSME Sector
  • Promotion of Cottage Industries
  • Make in India Policy for MSME Sector
  • Grading System for MSME Sector
  • Promotion of MSME Clusters
  • Promotion of Traditional Industries
  • Promotion of Manufacturing Sector
  • Research and Development by KVIC
  • Financial Assistance for MSME
  • Min of Petroleum & Natural Gas
  • LPG Distributors/ Retailers in J&K
  • Cash Subsidy Scheme for LPG
  • Bharat Stage Auto Fuels
  • Daily Crude oil price of Indian Basket was US$ 59.85/bbl on 27.02.2015
  • Budget proposals 2015-16 for Petroleum & Natural Gas sector
  • Min of Power
  • Ultra Modern Super Critical Coal Based Thermal Power Technology
  • Min of Road Transport & Highways
  • Committee Set up to Formulate Safety Standards for Car Manufactures
  • Government Fast on Execution of Road Projects
  • Government Determined to Check Road Accidents
  • Min of Shipping
  • Proposal for 101 More National Waterways
  • Government to Set up INW TG
  • Min of Social Justice & Empowerment
  • Meeting of UN-ESCAP working Group on the Asian and Pacific Decade of Persons with Disabilities Gets Underwa
  • Min of Urban Development
  • Delhi Development Authority’s role to be Revisited in the Context of Development Needs of Delhi
  • Min of Youth Affairs and Sports
  • Information to be hoisted mandatorily by IOA & NSFs on their Websites

Previous Date

 
Ministry of Commerce & Industry03-May, 2011 14:03 IST
Scindia Calls for Broadening of PTA With Mercosur
Pushes for BIPA with Uruguay
Sets the Goal for Ten-Fold Increase in trade With Uruguay
Minister of State for Commerce and Industry, Shri Jyotiraditya M Scindia emphasized the need to deepen engagement with Latin America by expanding the existing PTA with MERCOSUR. Since Uruguay will be the next President of the MERCOSUR bloc. “It is important that the leaders on both sides proactively take steps to expedite completion of the process for expansion of the PTA”, Shri Scindia said. He was speaking at a business seminar at Montevideo, Uruguay late last night. Shri Jyotiraditya Scindia who chairs a committee to promote trade and investment with Latin America, reached Uruguay in the second leg of his Latin American Tour after successful visit to Brazil.

The Minister highlighted the complementarities and similarities between India and Uruguay. He elaborated upon India’s growth story, especially in the sectors of Telecom, Human skills, India´s demographic dividend and trade. He invited businessmen and entrepreneurs from Uruguay to come to India and explore the opportunities available there, especially in the agricultural sector. Agribusiness is well organized in Uruguay with mechanization and outsourcing. Every hectare of land has been satellite mapped and soil condition and productivity documented. India can contribute in Pharmaceutical and Drugs, Engineering and machinery and IT. Uruguay Trade Minister Mr Roberto Kreimerman was also present.

During his meeting with the Uruguay Foreign Minister Mr Luis Leonardo Almagro Lemas, Shri Scindia said that the trade between the two countries needs to touch the USD 1 billion mark from Current levels of USD 110 million. He said “there is tremendous possibility for bilateral cooperation and we need to deepen engagement at the institutional level and expand the strategic relationship.” In this connection he identified that Double Tax Avoidance Agreement (DTAA), Bilateral Investment Promotion and Protection Agreement (BIPA) as critical future steps. He pointed out that Indian investments into Uruguay can flow into sectors - Agriculture, Creation of Montevideo and Uruguay as a trading hub for Latin America, Oil and gas. He raised the issue of visas for Indian businessmen travelling to Uruguay. Currently it is very difficult and time consuming. In contrast India issues 5 year visas for multiple entries to Uruguayan businessmen. The Uruguay Minister assured to find a solution to the visa issue.

Minister of Uruguay raised the issue of a joint commission for trade between India and Uruguay to sort out issues. It could meet annually or once in 2 years. He underlined the need for an Indian Embassy in Uruguay for dealing with the enhanced interaction.

Shri Scindia visited the bonded warehouse owned by GRUPORAS. It is the no.1 logistics company in MERCOSUR with facilities to provide access to 7 countries in LAC. They export 60% of the total goods received to other countries, of this 40% is destined for Brazil alone. The Chairman, Rubin Azar took Shri Scindia around the warehouse for a tour followed by a presentation on the activities of their company. Mr.Azar expressed his interest to increase trade linkages with India. Currently companies like Reliance, TVS, Kirloskar, Hero Electric, among others are using their warehouse facilities. They have also set up a showroom for display of products for potential buyers from the MERCOSUR region.

During April- December 2010 Indian Export were USD 67.25 million registering a growth of 87.72% Imports from Uruguay were USD 13 million for the same period.

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DS/GK
(Release ID :71917)

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