The proposal is being prepared for certain goods such as chemicals after having considered the value chain of products and exported positions reflected in some of the recent FTAs of India, as with the EFTA (European Free-Frade Association ). These rules are essential to verify any bypass of the ALE rules and the inexpensive import flow in India.
The development was in front of the probable visit of the EU Maros Šefcovi trade commissioner in India later this month.
“The rules of origin specific to the product are under discussion. We have exchanged our key requests and their commercial service is being evaluated,” said an official.
The rules of origin specific to the product specify that goods which do not come from a partner country must undergo a change in tariff classification or a specific manufacturing or processing operation to obtain the original status and the tariff concessions.
The previous commercial pacts of India had simple rules of origin linked to the entirely obtained criterion of the business partner, value -added criteria or a change in tariff capture parameter, which means the transformation of a product leading to A change in its service classification. However, the rules become more complex to provide greater flexibility to specific goods. The compromise proposal also assumes importance because the EU had proposed process rules proposed for India as its other Aff. In textiles, he had suggested that certain processes related to the rotation of the wire be considered as of European or Indian origin. Indian-EU trade has reached $ 180 billion in FY4, India exporting $ 106.31 billion in goods and services and the EU exporting $ 94.79 billion.
The tenth round of AFT negotiations in India-EU is scheduled from March 10 to 15 in Brussels, the two parties that should consider folding their differences on issues such as rules of origin and government purchases.
About The Author
