NEW DELHI, February 7 – BUSINESS STANDARD – If 2011 was a difficult period for Indian exports, 2012-13 would be worse. Exports had a healthy run in the first half of 2011-2012, while growth rates had been steadily falling since August. According to analysts and economists, while exports are facing severe shortage of demand in developed countries, even new markets would fail to ease the burden, as these also depend heavily on exports to Europe and the US. Engineering exports had seen a robust performance in recent years. According to R Maitra, executive director, Engineering Exports Promotion Council, engineering exports would not exceed $60 billion this financial year. He said one of India’s primary markets was Germany, and exports were not faring well even there. About 40 % of India’s engineering exports are meant for the European and American markets. – LIVEMINT – Foreign minister S.M. Krishna will start a three-day visit to China on Tuesday, during which he is expected to hold talks with his counterpart on issues including the disputed border and bilateral trade between the two countries. He is also expected to discuss the agenda of an upcoming summit of Brazil, Russia, India, China and South Africa—collectively known as BRICS—that will be held in New Delhi on 29 March. India-China trade has crossed $73 billion so far in 2011-12, according to media reports. Indian businesses have been seeking greater access to China’s domestic market for its pharmaceuticals, information technology and agricultural products. – FINANCIAL EXPRESS – Hopes of India and the European Union striking a free trade deal at a summit this week are fading fast, with differences over duties on cars and market access for software and service companies standing in the way of an accord. At stake is an agreement that would create one of the world's largest free-trade zones by population - covering 1.8 billion, or more than a quarter, of the world's people. Disagreement over duties on car imports, India's tariff on European cars is nearly 10 times greater than Europe's on Indian vehicles, and a dispute over access for Indian software companies to the EU market are set to scupper an agreement, with time running out on negotiations. EU leaders will meet their Indian counterparts in New Delhi on Feb. 10, having declared at a summit last year that they hoped to sign a free-trade deal before the meeting. – ECONOMIC TIMES – According to the Australian Trade Commissioner Grayson Perry, who was in the city to participate in a seminar on Indo-Australia trade, Australia's bilateral trade with India is set to reach $40 billion in the next three years. He said that his country was looking to invest in India, especially in the fields of vocational education, renewable energy among others. He also invited Indian investment in the mining sector in Australia.