The India is going to be accorded MFN (Most Favored Nation) status and this would be great thing to happen to both countries. In fact the entire South Asia is a natural trading zone due to geographical as well as historical reasons. Once the free trade or say freer movement of goods is allowed between the nations enclosed in this part of the world, there would be unleashing of a great force enabling all nations to develop their own strength while putting all others at some advantage. Whether or not the Kashmir problem would die down also eventually under force of change due to higher trade is still in doubt.
The govt has resorted to the auction route and shown respect for the judgement in case of 2G by supreme court. It is another matter that the response to the offer for about 42cr shares of ONGC has been a little luke-warm . It should OK in light of the fact that floor price is 290/- . The auction exercise would be completed with LIC putting in the money to cover shortfall.
The ECB has given further accommodation to banks and the fall out eventually will be similar as was the case with monetary easing exercise by USA. This means that equity markets would not suffer on account of its fall out.