Published at 04:46 (GMT) 11 May
ET: Indo-EU bilateral trade can double to 200bn euros from the current 100bn euros on increasing mutual cooperation and success of FTA talks, European Union Ambassador Joao Cravinho has said. New Delhi and Brussels are likely to resume dialogue on the free trade agreement FTA next month.
Meanwhile, Moody's said India's infrastructure debt issuers and procyclical industries should see improved credit conditions over the next 12-18 months. The improvement will be due to an upturn in economic growth, a gradual pass-through of interest rate cuts, weakness in international commodity prices, and the government's pro-growth policy agenda.
On financial markets, SENSEX rally continued with the index opening at 27249.42, up 144.03 points from last close. Equities buoyed from the global cues and also from the sentiment generated last week on Friday as the FinMin assured investors that it would refer MAT cases on overseas fund managers to a panel run by a senior judge for recommendations. USD/INR opened softer at 63.850 vs. last Friday's close at 63.9350; given the lack of any tier one data and oversold conditions, prices are likely to consolidate with support kicking in at 63.6925. 10Y yields came off top below 7.950%.BB
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