India protects key farm sectors, offers no duty cuts to EU on dairy, staples
As per the FTA, several Indian agricultural goods will get duty concessions in the EU markets, which will help boost the country's exports
New Delhi, Jan 28: India has fully protected its sensitive sectors such as dairy, rice, wheat, pulses, tea, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral Free Trade Agreement.
According to the Commerce Ministry, the country has also safeguarded sensitive sectors, including beef and poultry, fish and seafood, cheese, maize, corn, fruits and vegetables, nuts, edible oils, spices and tobacco.
The move is important as it involves livelihood of small and marginal farmers. "We will always protect this segment," an official said.
India has never granted duty benefits in the dairy sector in any of its previous free trade agreements (FTAs).
The EU, too, has excluded certain sectors from the ambit of this pact. The 27-nation bloc is safeguarding items such as meat and meat offal, dairy products, honey, rice, sugar, and tobacco.
As per the agreement, several Indian agricultural goods will get duty concessions in the EU markets, which will help boost the country's exports.
India is getting preferential market access to about 87% tariff lines or product categories of agri goods such as tea, coffee, spices, and table grapes.
India and the EU concluded negotiations for the FTA on January 27. It is likely to be signed and implemented this year only.
PTI