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Duty rebate on Scotch Whisky, EVs likely to be taken up with UK in Jan.
Jan 01, 2024

Duty concessions on Scotch whisky and electric vehicles and mobility of skilled workers are yet to be resolved in the proposed trade pact between India and the UK, and are likely to be taken up in the next round of talks in January, an official said on Friday.
 
India is also considering discussing longer transition period and tax restoration for its exporters once the UK's carbon border tax on imported goods kicks in from 2027, as part of the trade pact.
 
Yet, New Delhi remains hopeful of closing three trade pacts - with the UK, Oman and the European Free Trade Association (EFTA) - early next year, the official said.
 
Iceland, Liechtenstein, Norway, and Switzerland comprise the EFTA. In the negotiations with the UK, the two sides have resolved most of the issues related to rules of origin and intellectual property rights chapters, the official said.
 
The pact has 26 chapters.
 
The UK's demand for liberalisation of norms in services sectors like banking, insurance, and legal, and India's ask for easy movement of professionals are some of the unresolved issues.
 
'A few issues are also pending in the proposed bilateral investment treaty,' the official said. India is considering tariff rate quotas to meet the UK's demand for a reduction in import duties on its EVs as part of the proposed trade deal. The UK has also sought easier value addition norms for its EVs.
 
    
economictimes.indiatimes.com

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