ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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A Necessary Formality

gotten trade gains momentum only from October. It is hoped that the shift to the new period might lessen UAR's dependence on technical credit. Under the new agreement, India would import cotton worth Rs 35.0 crores and rice, glycerine, and Kaslin worth Rs 1.5 crores. These purchases would be balanced through India's exports of tea worth Rs 6.7 crores, jute goods worth Rs 9.0 crores, and engineering goods and other items worth Rs 7.5 crores. No details were released about the manner in which Egypt's indebtedness to India, estimated at Rs 27.0 crores, is to be settled. As regards past UAR contracts for Indian goods, the two delegations exchanged letters acknowledging, in principle, UAlVs responsibility for them and providing a committee to study each contract to work out the modalities of its execution. Meanwhile, it remains a fact that Indian exporters have suffered financially owing to differences or. opinion with the UAR on goods worth several lakhs manufactured on contract by Indian exporters according to UAR specifications.

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