Cabinet nod to market access modalities

The Cabinet Committee on Economic Affairs (CCEA) today gave the go-ahead for finalising India's stance on trade-related issues, including market access and rules of origin, among others, for a ministerial meeting at Ghana later this month.

The talks, the third round of the Global System of Trade Preferences (GSTP) Agreement, are expected to promote trade and economic cooperation among GSTP members and provide greater market access opportunity to India.

Among other decisions, the CCEA approved two schemes of the Agricultural and Processed Food Products Export Development Authority (APEDA) for infrastructure development and transport assistance. The two schemes worth Rs 429 crore will be implemented during the 11th Plan period (2007-12).

The thrust of the schemes is to build infrastructure to facilitate the export of agricultural produce and improve the competitiveness of Indian agri-products in the international market.

The committee also gave its nod to the parent company of Hindustan Coca Cola Holdings to invest around Rs 205 crore to predominantly fund capital expenditure in a subsidiary.

The approval is subject to compliance with the Securities and Exchange Board of India (Sebi) and Reserve Bank of India (RBI) guidelines, including those related to issuance of shares against application money.