India, Pakistan have $11 billion bilateral trade potential: Icrier

India, Pakistan have $11 billion bilateral trade potential: Icrier

India and Pakistan have a trade potential of $11.7 billion (Rs46,098 crore), but the two neighbours need to take proactive measures to exploit untapped areas of economic cooperation, the Indian Council of Research on International Economic Relations (Icrier) has said.

A study by the economic think tank, based on surveys of business people, has identified export potential of $2.2 billion from Pakistan to India, while India can ship goods worth $9.5 billion per annum to its neighbour.

“An examination of top 50 potential export items from Pakistan indicates that India is importing 45 of these items from the rest of the world, but not from Pakistan," the study said.

“An examination of the top 50 items having export potential from India indicates that only 22 items are on the positive list," it added.

Trade between India and Pakistan, although at low levels, has grown significantly in recent years. Between 2000-01 to 2005-06, trade has increased by three-and-a-half times from $251 million to $869 million per annum.

Sales growth to slow down further in FY08

Mumbai:Indian companies are expected to witness a slowdown in sales growth during the third-quarter of fiscal 2008 to 13%, compared with a sales growth of 24.7% in the year ago period, the Centre for Monitoring Indian Economy (CMIE) said in its monthly review.

The decline will be largely due to a significant slowdown in sales expansion in sectors such as chemicals, IT, food products, commercial vehicles, auto ancillaries and aluminium, CMIE said.

The think tank also said that interest rates continue to witness downward pressure, but that they would not be eased immediately. (PTI)

One dead of suspected bird flu in Pakistan

Singapore: Five members of a family in Pakistan are among eight people who may be the country’s first human cases of bird flu, the World Health Organization (WHO) said. At least one brother died.

Pakistan’s national laboratory found the lethal H5N1 avian flu strain caused the infections in three brothers and two cousins, according to a WHO statement on Saturday and Gregory Hartl, a WHO spokesman in Geneva. Medical teams have been sent to Pakistan to assist local authorities in investigating the cases, Hartl said. (Bloomberg)

63% to 65% polling in Gujarat, says EC

New Delhi: An estimated 63% to 65% of nearly 1.87 crore electorate on Sunday cast their votes in the second and final day of elections in Gujarat, the Election Commission (EC) said.

Sunday’s polling sealed the fate of chief minister Narendra Modi, who is seeking re-election from the Maninagar constituency. Modi is pitted against the Congress party nominee and Union minister of state for petroleum and natural gas Dinsha Patel.

“The polling was by and large peaceful and orderly with no major incident reported from anywhere in the state," deputy election commissioner J.P. Prakash said. (PTI)

N-deal: India working on safeguards clauses

Kolkata: India is currently in the process of laying down its safeguard clauses for the India-US nuclear agreement and will decide the next course of action after placing it before the United Progressive Alliance-Left joint committee, external affairs minister Pranab Mukherjee said on Sunday.

He said the India-specific clauses were a highly technical matter, adding that its technical aspects were being looked after by the Atomic Energy Commission, while the language was being drafted by officers of the Indian foreign service. (PTI)