Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
Commerce Department fine-tuning its negotiating stance for India-ASEAN FTA review.
Jan 22, 2024
The Commerce Department, with the help of the Indian industry, is trying to precisely identify items where it can gain from tariff cuts by the ASEAN countries, as it prepares for the review of the ASEAN-India Free Trade Agreement (FTA) beginning next month. India hopes to bridge the growing trade imbalance against the country by gaining greater market access in various sectors.
'The Commerce Department has circulated to various industry bodies a country-wise list of tariff lines for all ten ASEAN countries on which either concessions given under the existing FTA are minimal or excluded. Based on feedback from the industry, the negotiating team will shortlist the items and firm up its negotiating position. It wants to be precise in its demand,' a source tracking the matter told businessline.
The ASEAN-India FTA, formally known as the ASEAN-India Trade in Goods Agreement (AITGA), which was implemented fourteen years back in January 2010, resulted in disproportionate gains for the ASEAN industry.
Trade deficit
In 2022-23, India exported goods worth $44 billion to the region while its imports were valued at $87.57 billion. Trade deficit in 2022-23 was $43.75 billion compared to $7.5 billion during the implementation of the agreement.
India is hopeful that the long-pending review of the pact, to be initiated in New Delhi on February 18-19, will help in reducing some of the deficit with the ASEAN by addressing both tariff and non-tariff barriers.
'Under the AITGA, both sides agreed to progressively eliminate duties on about 75 per cent of goods and reduce tariffs on around 15 per cent of goods, but the tariff elimination commitment made by the ten ASEAN nations varied considerably. While an open economy like Singapore committed to almost 100 per cent elimination, countries like Indonesia and Vietnam offered much less,' the source said.
The 10-member ASEAN, which includes Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia.
Scope for tariff cuts
'There are various sectors where there is a scope for more tariff cuts in individual ASEAN, which include chemicals, metals and alloys, machinery, plastic & rubber, textiles, leather and gems & jewellery. The Indian industry has to go through the tariff list and point out exactly where they believe that they are competitive and can gain from tariff cuts,' the source said.
While the government had started collecting inputs from the industry, on both tariffs and non-tariff barriers, from late last year, it is now attempting to help the industry get more focussed so that precise demands can be made.
thehindubusinessline.com
Archive