NEW DELHI: India has supported relaxation of movement rules in the European Union under the proposed trade deal, while calling for duty cuts as well as reduction of non-tariff barriers to ensure Coins that actually benefit from the country instead of being trapped in exports. A maze of complex rules and standards known to create trade blocs.
Besides, government sources said the demand for easier investment rules should be seen as a package with relaxed norms for trade in services. During meetings with Indian officials led by Commerce Secretary Sunil Barthwal last week, the EU, which has been negotiating a trade deal with India for more than a decade, appeared to be more sympathetic to India’s position.
In return, the European Union has demanded deep cuts in import tariffs in India, insisting that free trade agreements signed by New Delhi, including those of the European Free Trade Association, which includes Switzerland and Norway. Also, communication should not be standard. said the official.
While the EU is seeking “higher ambitions” on tariff cuts, the government is unlikely to offer dairy and agriculture, as Brussels also has sensitivities in the sector. But sources indicated that sectors such as automobiles and manufacturing equipment could see some action.
“There is a greater understanding of the need to come together on issues, which is a positive sign. If we can move towards bridging the gap, engagement will increase,” a source said.
The Indian side, which included chief negotiator Satya Srinivas, pointed to Germany’s recent increase in visas, arguing that India could provide skilled workers to European countries as they grapple with an aging population. have been Although country-specific announcements are being made, the government has proposed an EU-level initiative, which could be part of a package of services.
Initiatives, such as the carbon border tax adjustment mechanism proposed by the European Union, have been over-appreciated, the sources said, recognizing that the proposed tough and binding obligations on sustainability are a challenge for a developing country like India. There are challenges.
Given that India and the EU resumed FTA talks nearly two years ago, the two sides reviewed progress after nine rounds and with some broad understanding of positions, the next talks are expected before March. is