India Shields Key Sectors in EU Trade Pact
India has secured its sensitive sectors, including dairy, rice, and poultry, from EU trade concessions in a recently concluded free trade agreement. The pact, emphasizing the protection of small farmers, offers India preferential market access to EU's agri goods and reduced duties on marine products.
- Country:
- India
In a strategic move, India has ensured that sensitive sectors such as dairy, rice, and wheat remain protected under the new bilateral free trade agreement (FTA) with the European Union. By refusing to grant import duty concessions to the EU, India aims to safeguard the livelihoods of small and marginal farmers.
The Commerce Ministry confirmed that other vulnerable sectors, including beef, poultry, and seafood, have also been shielded from any duty benefits. This approach aligns with India's history of not providing duty benefits in the dairy sector in previous FTAs.
While India and the EU have reached a consensus on the FTA, the agreement is expected to be signed and implemented within the year. Notably, the EU has excluded sectors such as meat and dairy from concessions, yet India gains preferential access to 87% of the EU's tariff lines for agri goods, fostering growth in exports.
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