Key Points
Above 90% of Indias exports of some textiles and certain engineering goods such as electrical transmission lines to Australia are happening through the trade agreement which came into effect December 29, 2012, meaning that exporters have begun benefiting from the pact...
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...
Think tank GTRI has said that to counter the low utilisation rate of Indias FTAs, Indian firms must also compare the most favoured nation (MFN) duty and trade agreement duties for a product as a company benefits from an agreement only when the customs duty under that pact is lower than the MFN duty...
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