Exporters seek separate division for non-trade issues, faster customs clearance

India is taking a tough stand on non-tariff barriers being imposed on Indian exports by other countries and would also take similar measures on a reciprocal basis, Commerce and Industry Minister Piyush Goyal said on Tuesday

The India-UK free trade agreement negotiations are at a crucial stage, with the Prime Minister's Office reviewing progress on February 16. Commerce and Industry Minister Piyush Goyal and Commerce Secretary Sunil Barthwal attended the meeting. Both countries are working to resolve remaining issues. The pact covers 26 chapters, including goods, services, investments, and intellectual property rights.

Commerce and Industry Minister Piyush Goyal had said the finance ministry regularly keeps allocating money for PLI

The commerce department has begun the exercise with barriers such as registration requirements, higher pesticide levels and domestic standards, put up by Africa and 12 Central Asian countries, including Russia, and would then study the restrictions imposed by other trading partners.

Prime Minister Narendra Modi on Tuesday spoke to his British counterpart Rishi Sunak on the Free Trade Agreement | Latest News India

India and the Association of Southeast Asian Nations (ASEAN) have agreed to review their free trade agreement in goods, called the ASEAN-India Trade in Goods Agreement (AITIGA), by 2025. The review aims to address concerns about barriers and misuse of the trade pact, as well as the widening trade deficit between India and the bloc.

India and the UK are addressing differences over intellectual property rights and rules of origin in their ongoing negotiations for a free trade agreement. The countries have closed 14 of the agreement's 26 chapters, with issues surrounding environment, labour, and digital trade occurring in five remaining chapters.

Officials said that the utilisation of the India-Australia Economic Cooperation and Trade Agreement (ECTA) is as high as 90% in around 113 products especially labour intensive items where duties were reduced to nil from 5% under the pact. “90% of the exports of these products to Australia are happening through the FTA (free trade agreement) route,” said an official. This assumes significance as Indias utilization rate of its FTAs has been historically low due to documentation costs, lack of awareness and strict morphine norms.

Commerce and industry minister Piyush Goyal is one of the co-chairs along with external affairs minister S Jaishankar and Union minister of state for electronics and information technology Rajeev Chandrasekhar, the commerce ministry said in a statement. The EU side is co-chaired by Executive Vice Presidents (EVPs) Dombrovskis and Vestager.

India and Europe's trade bloc finally signed the free trade agreement on Sunday, which has been in the works for 16 years.