:00:00. > :00:00.pleased that minds have been changed over unannounced inspections. Now on
:00:00. > :00:17.BBC News, all the latest business news live from Singapore. India and
:00:18. > :00:20.China have their eye on new markets, as high`level talks are
:00:21. > :00:25.held to revive trade and build their economies. And we take you to a
:00:26. > :00:34.fishing port in Taiwan to look at what authorities are doing to tackle
:00:35. > :00:38.human chat to make trafficking. `` human trafficking. Welcome to Asia
:00:39. > :00:42.Business Report. India's new government has set out its plans for
:00:43. > :00:47.rapid economic reform, including a new general sales tax. To encourage
:00:48. > :00:51.foreign investment, and measures to fast track approvals from major
:00:52. > :00:56.business projects. The government is also boosting relations with
:00:57. > :00:59.mainland China. India's Prime Minister Narendra Modi met the
:01:00. > :01:02.Chinese Foreign Minister in Delhi in the first high`level talks between
:01:03. > :01:10.the rival Asian giants as Mr Modi took charge. Our correspondent in
:01:11. > :01:13.Delhi has more. India and China, the two Asian giants, have a growing
:01:14. > :01:16.interest in each other economically. China is now one of
:01:17. > :01:22.India's biggest trading partners. With two way trade deals to $70
:01:23. > :01:25.billion. That is part of the problem, for every dollar worth of
:01:26. > :01:30.products that India exported to China, it imports three times as.
:01:31. > :01:34.Just take this market free sample, over 70% of all products found in
:01:35. > :01:40.this market come from China, with its cheap fabrics, and high and
:01:41. > :01:44.electronic. So this is one of the big issues on the table for this
:01:45. > :01:52.visit. India's growing concern about the trade deficit, which is now
:01:53. > :01:55.closed to $40 billion. `` close to $40 billion. But it is not just
:01:56. > :01:57.trade which is the problem. The two countries have traditionally eyed
:01:58. > :02:01.each other with mutual suspicion. More recently, the relationship has
:02:02. > :02:06.been tense, mainly due to border disputes. But now something has
:02:07. > :02:09.changed, not just in the tone of statements by both sides, but also
:02:10. > :02:15.in the body language of the political leaders. This is the first
:02:16. > :02:22.high`profile meeting to be held here at the official residence of Prime
:02:23. > :02:26.Minister Narendra Modi. He has in the past expressed his admiration
:02:27. > :02:30.for China's growth model. He has visited Beijing many times in his
:02:31. > :02:36.role as the Chief Minister of this state. Seeking investment for his
:02:37. > :02:39.home State. He has also spoken about introducing Mandarin for
:02:40. > :02:43.schoolchildren in his state. On visits, he has even printed his
:02:44. > :02:46.business card and mandarins in the colour red, which is considered
:02:47. > :02:49.auspicious by many in China. But this government does not just want
:02:50. > :02:58.to emulate China, it is ambitious, and it wants to compete in the
:02:59. > :03:03.global economy, with China. China has not been shy in supporting big
:03:04. > :03:06.business opportunities. In fact, one of the greater strength in global
:03:07. > :03:09.economic and trade ties in recent years has been the growing
:03:10. > :03:13.relationship between China and Africa. Trade between the two sides
:03:14. > :03:20.reached more than $200 billion last year. From just $10 billion in 2000.
:03:21. > :03:23.And Africa's exports to China are increasing 25% every year. In some
:03:24. > :03:34.African countries, those exports account for more than a quarter of
:03:35. > :03:38.GDP. Our correspondent spoke to a representative of HSBC to see how a
:03:39. > :03:42.slowdown would affect China. For certain countries such as the
:03:43. > :03:47.Democratic Republic of Congo, GDP are accounted for by exports to
:03:48. > :03:52.China. So Chinese demand slows or weakens, which is not our base case,
:03:53. > :03:55.we are still expecting smooth sailing in China, but in case there
:03:56. > :03:58.is a downturn for the Chinese economy, this would inevitably
:03:59. > :04:03.impact the economies in Africa. Do you see that as a big risk for the
:04:04. > :04:07.future? You have an optimistic outlook for China, but who knows
:04:08. > :04:11.what will happen in five or ten years time? China is obviously going
:04:12. > :04:16.through a tremendous transformation of its economy from investment and
:04:17. > :04:19.export `based towards a more consumption led economy. In that
:04:20. > :04:21.sense, maybe in the future, what China imports from the rest of the
:04:22. > :04:25.world will be more consumption products rather than being a
:04:26. > :04:31.commodity and sort of manufacturing focused economy. So in that sense,
:04:32. > :04:37.then Africa should diversify the product line beyond commodities. And
:04:38. > :04:40.they can do it, because at the end of the day, you still have very low
:04:41. > :04:43.Labour costs in Africa. So Africa could start producing more
:04:44. > :04:48.consumption related goods, more value`added, more technology
:04:49. > :04:51.intensive product, that they can eventually export out to China
:04:52. > :04:58.instead of only commodities, as Chinese economy transforms to a
:04:59. > :05:01.phase. A representative from HSBC. China has launched a review into
:05:02. > :05:07.potential anti`competitive behaviour across 18 major interest industries
:05:08. > :05:09.including pharmaceuticals and alcoholic drinks. The president
:05:10. > :05:15.promised to crack down on corruption when he came into power last year.
:05:16. > :05:18.The commerce Ministry has reportedly said that the survey was not
:05:19. > :05:21.targeting any specific industries, but was aimed at eradicating
:05:22. > :05:28.anti`competitive practices across all industries. India's Prime
:05:29. > :05:32.Minister Narendra Modi push for more reliable electricity from the Sun
:05:33. > :05:36.may be under threat if the government imposes duties on imports
:05:37. > :05:39.of solar panels. The charges were proposed by the previous
:05:40. > :05:43.administration. Analysts say that only a quarter of the solar capacity
:05:44. > :05:49.in the works now will be finished if the levies are impacted. And they
:05:50. > :05:55.warned that tax would double the cost of solar power. Sony and
:05:56. > :05:59.Microsoft are battling it out this week at E3, the world's largest
:06:00. > :06:02.video gaming expo in Los Angeles. They will be looking to impress with
:06:03. > :06:07.their offerings for the next year or so. Our north America technology
:06:08. > :06:11.correspondent Richard Taylor reports from Los Angeles. Microsoft are
:06:12. > :06:15.holding a press conference first to kick off proceedings at E3, the
:06:16. > :06:20.three`day event. But the tone really set by today's announcements and the
:06:21. > :06:24.focus exclusively on the games themselves. On the forthcoming
:06:25. > :06:28.titles that we will see for Microsoft's Xbox One, which has been
:06:29. > :06:35.out about seven months but hasn't done as well as Sony's console. Sony
:06:36. > :06:40.always focused on the gaming aspect of the PS4. Microsoft started out,
:06:41. > :06:42.when they released the Xbox One, talking about the overall
:06:43. > :06:46.entertainment experience. But it was clear from today's press conference
:06:47. > :06:50.that it is all about gaming for them now. They have pivoted to talking
:06:51. > :06:54.about some truly next`generation titles with dutiful graphics and
:06:55. > :06:58.fascinating gameplay. In truth, there wasn't that much in the way of
:06:59. > :07:05.real innovation in gaming that we saw today. There wasn't even a
:07:06. > :07:12.mention really of Microsoft's Kinnect, now unbundled from the Xbox
:07:13. > :07:17.One as an additional accessory. They are expected to talk more about
:07:18. > :07:22.project Morpheus, the virtual reality headset 80s to a few months
:07:23. > :07:26.ago. That could be very interesting, along with the other virtual reality
:07:27. > :07:31.headset on the show, the oculus rift. Those could open the door to a
:07:32. > :07:34.new generation of gaming. As they turn their head, they are immersed
:07:35. > :07:37.in their surroundings in a way that basically haven't been until now. So
:07:38. > :07:44.it is said to be a fascinating three days. And we will be bringing you
:07:45. > :07:48.the latest from the show floor. Richard Taylor in LA, and for more
:07:49. > :07:56.on the E3 conference, check out the latest news on the BBC website.
:07:57. > :08:01.Taiwan's fishing and the Ford exports `` Taiwan's fishing exports
:08:02. > :08:06.have put the sector in the spotlight. Our correspondent has
:08:07. > :08:11.more from a fishing port. Back from days at sea, these migrant fishermen
:08:12. > :08:18.do not get a break. They are busy mending fishing nets to set out to
:08:19. > :08:22.sea again. They are among at least only 4000 mostly south`east Asian
:08:23. > :08:27.migrants working in Taiwan's fishing industry. According to local Labour
:08:28. > :08:32.laws, they are supposed to get at least $600 a month. And put in no
:08:33. > :08:35.more than 12 hours per day. But many work much longer than that. They
:08:36. > :08:39.often receive less than half their salary. This man asked not to be
:08:40. > :09:03.identified. Taiwan's treatment of migrant
:09:04. > :09:08.fishermen amounts to human trafficking and forced Labour,
:09:09. > :09:15.according to experts at the UN's agency in charge of protecting
:09:16. > :09:18.worker' writes. NGOs say that, the government is not doing enough to
:09:19. > :09:22.stop the exploitation of migrant workers. They say the government
:09:23. > :09:27.must have clear standards on wages, hours, and working conditions.
:09:28. > :09:31.Alison Lee, from the migrants union, says she has reported more than 100
:09:32. > :09:35.cases of exploitation to the government. But that nothing has
:09:36. > :09:41.been done to help the workers. Did they give any of the money back? No.
:09:42. > :09:46.Not one single person got a penny back? No. They have been threatened
:09:47. > :09:49.with sending home. Government officials say they have done a lot
:09:50. > :09:54.to help migrants, such as setting up a system to allow employers to hire
:09:55. > :09:57.them directly. But most employers still prefer to go through agencies,
:09:58. > :10:03.which do all the paperwork for them and charge the migrants instead.
:10:04. > :10:06.TRANSLATION: The problem is their home countries allow the overseas
:10:07. > :10:09.recruitment agencies to deduct higher fees from the workers. We
:10:10. > :10:14.have been asking their governments to reduce the fees. This is not
:10:15. > :10:18.something we can stop on our own. Workers' rights groups say that what
:10:19. > :10:21.Taiwan can do in the meantime is in the meantime is enforce its laws,
:10:22. > :10:25.which look good on paper, but are not being followed. They say that
:10:26. > :10:30.unless Taiwan seriously addresses this issue, its reputation will be
:10:31. > :10:39.marred, regardless of how much fishing nets bring in. And before we
:10:40. > :10:42.go, here is news just in. China's inflation rate coming in higher than
:10:43. > :10:46.expected at 2.5% in the month of May. Exhilarating from 1.8% in
:10:47. > :10:50.April, and marking the highest figure in four months. Currently
:10:51. > :10:55.this is having an impact on Asian markets. Japan is currently in
:10:56. > :11:11.negative territory by 39 points. Thank you for investing your time
:11:12. > :11:14.with us. Sport today is up next. The top stories this hour. Just days
:11:15. > :11:18.before the World Cup there's been more violence on the streets of
:11:19. > :11:19.Brazil ` but a subway strike in Sao