Indian rupee strengthens to trade below 60 per dollar.
The Indian rupee gained on Friday, breaching below 60 to the dollar, on hopes recent foreign investor selling could subside after comments from US Federal Reserve officials seen as supporting continued monetary stimulus sparked a global risk rally.....

Capital goods industry demands zero duty on stainless steel imports due to falling Rupee.
The Capital Goods manufacturing companies exporting Process Plant machinery have been demanding removal of import duties on import of stainless steel hot rolled sheets, coils and cold rolled products. Government had imposed anti dumping duties as well on imports originating from European Union , South Korea, Taiwan and USA and South Africa despite the fact that there are so many grades and forms which are presently not manufactured in India" said Mr V.P.Ramachandran , Secretary General, Process Plant and Machinery Association of India (PPMAI)....

Government cuts import tariff value of gold, silver
The government on Monday slashed the import tariff value of gold to $421 per ten grams and that of imported silver to $709 per kg, considering the falling trend in global prices. Tariff value is the base price on which the customs duty is determined to prevent under-invoicing. Last month, the tariff value of gold was at $459 per 10 grams and silver at $737 per kg.....

OIL engages US lobby firm to open gas exports.
State-run Oil India Ltd has knocked on the doors of a US lobby group - Indo-American Political Action Committee (IAPAC) - to persuade the US Congress to open up liquid gas exports to India.....

India-Israel free trade agreement to boost trade volume.
The implementation of the proposed free trade agreement between India and Israel is expected to boost the bilateral trade multi-fold, a top Israeli diplomat today said. These are very detailed and difficult negotiations. From my point of view, they are focusing now on the list of items. Because, every FTA by definition, goes through a very long list of items and lowers taxes. Now, the significance of an FTA in India-Israel case goes beyond the volume of trade......

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