:00:00. > :00:11.unannounced inspections. Now on BBC News all the latest business news
:00:12. > :00:15.live from Singapore. India and China have their eye on
:00:16. > :00:20.new markets, as high`level talks are held to revive trade and build their
:00:21. > :00:23.economies. And we take you to a fishing port in Taiwan to look at
:00:24. > :00:35.what authorities are doing to tackle human trafficking. Welcome to Asia
:00:36. > :00:38.Business Report. India's new government has set out its plans for
:00:39. > :00:47.rapid economic reform, including a new general sales tax. To encourage
:00:48. > :00:50.foreign investment, and measures to fast track approvals from major
:00:51. > :00:52.business projects. The government is also boosting relations with
:00:53. > :00:55.mainland China. India's Prime Minister Narendra Modi met the
:00:56. > :00:58.Chinese Foreign Minister in Delhi in the first high`level talks between
:00:59. > :01:07.the rival Asian giants as Mr Modi took charge. Our correspondent in
:01:08. > :01:10.Delhi has more. India and China, the two Asian
:01:11. > :01:13.giants, have a growing interest in each other economically. China is
:01:14. > :01:19.now one of India's biggest trading partners. With two way trade deals
:01:20. > :01:21.of up to $70 billion. That is part of the problem, for every dollar
:01:22. > :01:27.worth of products that India exported to China, it imports three
:01:28. > :01:31.times as much. Just take this market for example, over 70% of all
:01:32. > :01:37.products found in this market come from China, with its cheap fabrics,
:01:38. > :01:42.and high`end electronics. So this is one of the big issues on the table
:01:43. > :01:48.for this visit. India's growing concern about the trade deficit,
:01:49. > :01:51.which is now close to $40 billion. But it is not just trade which is
:01:52. > :01:55.the problem. The two countries have traditionally eyed each other with
:01:56. > :02:00.mutual suspicion. More recently, the relationship has been tense, mainly
:02:01. > :02:03.due to border disputes. But now something has changed, not just in
:02:04. > :02:10.the tone of statements by both sides, but also in the body language
:02:11. > :02:13.of the political leaders. This is the first high`profile meeting to be
:02:14. > :02:19.held here at the official residence of Prime Minister Narendra Modi. He
:02:20. > :02:24.has in the past expressed his admiration for China's growth model.
:02:25. > :02:32.He has visited Beijing many times in his role as the Chief Minister of
:02:33. > :02:35.this state. Seeking investment for his home State. He has also spoken
:02:36. > :02:38.about introducing Mandarin for schoolchildren in his state. On
:02:39. > :02:41.visits, he has even printed his business card in Mandarin in the
:02:42. > :02:45.colour red, which is considered auspicious by many in China. But
:02:46. > :02:48.this government does not just want to emulate China, it is ambitious,
:02:49. > :03:04.and it wants to compete in the global economy, with China.
:03:05. > :03:08.The push for more reliable energy from the sun that may be under
:03:09. > :03:16.threat if the government imposes duties on the imports of solar
:03:17. > :03:22.panels. Only a quarter of the solar panels in capacity now will be
:03:23. > :03:31.produced and this could double the cost of solar power. New data
:03:32. > :03:38.reveals inflation is rising in May, with food costs rising from a year
:03:39. > :03:42.ago. It is still below the government target of 3.5% leaving
:03:43. > :03:53.more room for growth this year. China's leader is continuing with
:03:54. > :04:03.his crackdown on corruption into anticompetitive behaviour across
:04:04. > :04:10.many major industries which include alcohol, pharmaceuticals and
:04:11. > :04:13.automobiles. They are not targeting any specific sectors but aim to
:04:14. > :04:17.stamp out anticompetitive practices across all sectors. China has not
:04:18. > :04:22.been shy in supporting big greater strength in global economic
:04:23. > :04:24.and trade ties in recent years has been the growing relationship
:04:25. > :04:28.between China and Africa. Trade between the two sides reached more
:04:29. > :04:32.than $200 billion last year. From just $10 billion in 2000. And
:04:33. > :04:37.Africa's exports to China are increasing 25% every year. In some
:04:38. > :04:43.African countries, those exports account for more than a quarter of
:04:44. > :04:59.GDP. Our correspondent spoke to a representative of HSBC to see how a
:05:00. > :05:03.slowdown would affect China. Africa should diversify its product line
:05:04. > :05:08.beyond commodities and they can do it because at the end of the day you
:05:09. > :05:12.have very low labour costs in Africa. So Africa could start
:05:13. > :05:14.producing more consumption related goods, more value`added, more
:05:15. > :05:16.technology intensive product, that they can eventually export out to
:05:17. > :05:36.China instead of only commodities, as Chinese economy transforms to a
:05:37. > :05:40.phase. A representative from HSBC. Sony and Microsoft are battling it
:05:41. > :05:43.out this week at E3, the world's largest video gaming expo in Los
:05:44. > :05:46.Angeles. They will be looking to impress with their offerings for the
:05:47. > :05:49.next year or so. Our North America technology correspondent Richard
:05:50. > :05:51.Taylor reports from Los Angeles. Microsoft are holding a press
:05:52. > :05:54.conference first to kick off proceedings at E3, the three`day
:05:55. > :05:56.event. But the tone really set by today's announcements and the focus
:05:57. > :05:59.exclusively on the games themselves. On the forthcoming titles that we
:06:00. > :06:03.will see for Microsoft's Xbox One, which has been out about seven
:06:04. > :06:06.months but hasn't done as well as Sony's console. Sony always focused
:06:07. > :06:07.on the gaming aspect of the PS4. Microsoft started out, when they
:06:08. > :06:10.released the Xbox One, talking about released the Xbox One, talking about
:06:11. > :06:13.the overall entertainment experience. But it was clear from
:06:14. > :06:17.today's press conference that it is all about gaming for them now. They
:06:18. > :06:23.have pivoted to talking about some truly next`generation
:06:24. > :06:26.beautiful graphics and fascinating gameplay. In truth, there wasn't
:06:27. > :06:31.that much in the way of real innovation in gaming that we saw
:06:32. > :06:34.today. There wasn't even a mention really of Microsoft's Kinnect, now
:06:35. > :06:52.unbundled from the Xbox One as an additional accessory. We are waiting
:06:53. > :06:55.on Sony's announcement later. They are expected to talk more about
:06:56. > :06:58.project Morpheus, the virtual reality headset 80s to a few months
:06:59. > :07:01.ago. That could be very interesting, along with the other virtual reality
:07:02. > :07:04.headset on the show, the oculus rift. Those could open the door to a
:07:05. > :07:08.new generation of gaming. As they turn their head, they are immersed
:07:09. > :07:11.in their surroundings in a way that basically haven't been until now. So
:07:12. > :07:14.it is said to be a fascinating three days. And we will be bringing you
:07:15. > :07:18.the latest from the show floor. Richard Taylor in LA, and for more
:07:19. > :07:25.on the E3 conference, check out the latest news on the BBC website.
:07:26. > :07:30.Instagram is expanding its advertising aced to the UK on the
:07:31. > :07:38.Canada and Australia later this year. It was bought by Facebook in
:07:39. > :07:43.2012 and it introduced advertising in November. It has more than 200
:07:44. > :07:54.million users worldwide but many of them are believed to be outside of
:07:55. > :07:59.America. A recent case involving Cambodian fisherman trafficked to
:08:00. > :08:03.work on Taiwanese boats has put the sector in the spotlight. Our
:08:04. > :08:05.correspondent has more from a fishing port.
:08:06. > :08:09.Back from days at sea, these migrant fishermen do not get a break. They
:08:10. > :08:24.are busy mending fishing nets to set out to sea again. They are among at
:08:25. > :08:26.least 24, 000 mostly south`east Asian migrants working in Taiwan's
:08:27. > :08:30.fishing industry. According to local Labour laws, they are supposed to
:08:31. > :08:34.get at least $600 a month. And put in no more than 12 hours per day.
:08:35. > :08:37.But many work much longer than that. They often receive less than half
:08:38. > :08:54.their salary. This man asked not to be identified. Taiwan's treatment of
:08:55. > :08:57.migrant fishermen amounts to human trafficking and forced Labour,
:08:58. > :09:05.according to experts at the UN's agency in charge of protecting
:09:06. > :09:07.worker's rights. NGOs say that the government is not doing enough to
:09:08. > :09:13.stop the exploitation of migrant workers. They say the government
:09:14. > :09:18.must have clear standards on wages, hours, and working conditions.
:09:19. > :09:21.Alison Lee, from the migrants union, says she has reported more than 100
:09:22. > :09:27.cases of exploitation to the government. But that nothing has
:09:28. > :09:32.been done to help the workers. Did they give any of the money back? No.
:09:33. > :09:39.Not one single person got a penny back? No. They have been threatened
:09:40. > :09:43.with sending home. Government officials say they have done a lot
:09:44. > :09:46.to help migrants, such as setting up a system to allow employers to hire
:09:47. > :09:49.them directly. But most employers still prefer to go through agencies,
:09:50. > :09:55.which do all the paperwork for them and charge the migrants instead.
:09:56. > :09:57.TRANSLATION: The problem is their home countries allow the overseas
:09:58. > :10:01.recruitment agencies to deduct higher fees from the workers. We
:10:02. > :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. Worker's 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. > :10:24.which look good on paper, but are not being followed. They say that
:10:25. > :10:26.unless Taiwan seriously addresses this issue, its reputation will be
:10:27. > :10:31.marred, regardless of how much fishing nets bring in.
:10:32. > :10:39.And before we go, here is news just in. Asian stock markets are mixed
:10:40. > :10:45.just now as they react to the latest inflation report which came back
:10:46. > :10:50.higher than expect it at 2.5% compared to last year's levels.
:10:51. > :11:02.Thank you for investing your time with us. Sport today is up next. The
:11:03. > :11:06.main news stories this hour. Days before the start of the World Cup in
:11:07. > :11:08.Brazil, metro workers in Sao Paulo have suspended their protest over
:11:09. > :11:13.pay until Wednesday when they will hold a vote on future action.
:11:14. > :11:14.Rescuers in the German Alps have rescued a man located in