Services, trade-barriers to figure in BRICS Trade Ministers meet
Non-tariff barriers, ways to promote services sector and cooperation in intellectual property rights (IPRs) are the key issues to be discussed in the meeting of trade ministers of BRICS on October 13 here.
New Delhi: Non-tariff barriers, ways to promote services sector and cooperation in intellectual property rights (IPRs) are the key issues to be discussed in the meeting of trade ministers of BRICS on October 13 here.
Besides, trade ministers of Brazil, Russia, India, China and South Africa (BRICS) would also deliberate on enhancing collaboration among small and medium enterprises (SMEs), an official said.
"Before this meet, senior officials of these five countries would meet on October 11 and 12 to work out the details about ways to boost commerce and investments," the official added.
The officials of the group are also expected to work on an outcome document which could find place in the communique released after the meeting of the trade ministers.
Member countries would also deliberate on increasing cooperation in IPR related matters to promote innovation and entrepreneurship.
Experts stated that India should raise the issue of non- tariff barriers which domestic exporters are facing in Brazil, Russia and China.
"Exporters face lot of issues related to registration of pharmaceutical products, sanitary and phytosanitary matters in agri goods and certain mandatory norms in IT sector. These acts as barriers which needs to be removed to boost trade among BRICS members," said Ajay Sahai, DG of Federation of Indian Export Organisations (FIEO).
Trade Expert and Professor at Jawaharlal Nehru University, Biswajit Dhar, said member countries should enhance their cooperation not only at regional level but also at multi-lateral forums like WTO.
"Currently there is lack of coordination among BRICS members on trade related matters. Close coordination is required in that front at the WTO related matters also," Dhar said.
There will also be a meeting of BRICS Business Council, which would deliberate on ways to increase investments, and a three-day trade fair, starting from October 12 here.
These meetings are part of the eighth annual Summit of BRICS. India is hosting summit from October 15-16 in Goa in its capacity as chair of the influential bloc comprising five countries with 42 percent of the world population and combined GDP of over USD 16 trillion.
Macro data to dictate market trend in holiday-shortened week
New Delhi, Sep 11 (PTI) Macroeconomic data, IIP and inflation, will drive stock market sentiment in a holiday-shortened week ahead, say experts.
Stock market will remain closed on Tuesday on account of "Bakri Id".
"Macroeconomic data, progress of monsoon rains and trends in global markets will dictate trend on the stock markets in a truncated trading week ahead," said Vijay Singhania, Founder-Director of Trade Smart Online.
IIP and inflation data are slated for this week which may also influenced trading sentiment.
Inflation data based on Consumer Price Index (CPI) for August and Index of industrial production will be released on Monday, while wholesale price index (WPI) is scheduled for Wednesday.
"After the recent surge, we would see traders preferring to book some profit at the higher, which will add to market pressure in the coming week. We think, its normal to see a pause or consolidation around the record high level's," Singhania added.
Coal India's Q1 results is also scheduled for this week.
Over the past week, the Sensex climbed 265.14 points or 0.92 per cent and the NSE Nifty rose 57.05 points or 0.64 per cent. Both indices recorded second weekly gains.