Indian Express, April 05, 2014
The mega free trade agreement – Regional Comprehensive Economic Partnership (RCEP) is an important pact for India and industry should equip itself to avail the opportunities which would emerge from this, a top government official Friday said.
Allaying industry concerns over free trade agreements that India has implemented with other nations, Commerce Secretary Rajeev Kher said that businesses should take advantage from these pacts.
Speaking at a Ficci-CUTS function, he also asked all the departments to involve in the process of enhancing exports.
SAIL told to expand its global presence
he steel ministry has told SAIL that it needs to expand its global presence by ensuring availability of its special products, especially in the emerging markets. Chairing a meeting to review the country’s biggest steel maker’s performance in Kolkata on Friday, steel secretary G Mohan Kumar told the PSU’s top brass that they should also make adequate efforts to overcome the challenges posed by sluggish market conditions following impending completion of the company’s ongoing expansion and modernisation drive.
Kumar’s directive comes close on the heels of a parliamentary standing committee asking the company last month to do more to expand its global presence. During the just-concluded FY14, SAIL achieved 7 per cent growth in domestic sales to 12.1 million tonnes, while its exports jumped by 28 per cent, although on a small base.
Increased emphasis on value-added steel sales enabled SAIL to market 2.2 lakh tonnes of special steels, of which nearly one lakh tonnes comprised stainless steel, it said.