India in trade talks with EU, other countries, minister tells Lok Sabha

“At present, negotiations are ongoing on the India–European Union Free Trade Agreement, India–Australia Comprehensive Economic Cooperation Agreement, India–Sri Lanka Economic and Technology Cooperation Agreement, India–Peru Free Trade Agreement, India-Chile Comprehensive Economic Partnership Agreement, India–New Zealand Free Trade Agreement, India–USA Bilateral Trade Agreement and a similar approach has been followed while dealing with the United Kingdom to safeguard the interests of farmers and secure market access for our agri-products,” Thakur said.

He said, “In order to protect the interests of the farmers and domestic industry, including MSMEs, FTAs provide for maintaining sensitive, negative or exclusion lists of items on which limited or no tariff concessions are granted.”

“In addition, in case of surge in imports and injury to the domestic industry, a country is allowed to take recourse to trade remedial measures such as anti-dumping and safeguards on imports within the period as mutually agreed to by the parties under the FTAs. Likewise Rules of Origin, including product-specific rules are developed with stakeholder consultations,” he said.