Key Points
New Delhi: The government is assessing the country's preparedness to counter the impact of non-trade related issues such as labour, gender balance, deforestation, climate change and sustainable development being used by many countries to impose restrictions or additional tariffs on exports...
NITI Aayog is holistically looking at these issues and their implications on exports and will soon firm up its recommendations to ensure India maintains its export growth momentum, a senior government official told ET...
"Going forward, the non-trade issues will play a significant role and the current set of growth projections in exports is largely based on demand for primary products and intermediates..
Citing the example of the US Inflation Reduction Act, which aims to establish green technology industries and the EU's Carbon Border Adjustment Mechanism (CBAM), under which tax is levied on certain imports into the region, the official said there is a need for India to prepare itself for such challenges to avoid missing its long-term export targets...
India has maintained that the World Trade Organization should not negotiate rules on non-trade-related issues such as climate change and gender, which legitimately fall within the domain of other intergovernmental organisations..
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