India offers new tariff concessions
India today offered new tariff concessions covering more than 90 per cent of Asean's exports to New Delhi in a bid to accelerate the slow moving Asean-India FTA talks.
By PTI |
KUALA LUMPUR: India today offered new tariff concessions covering more than 90 per cent of Asean's exports to New Delhi in a bid to accelerate the slow moving Asean-India FTA talks. "Earlier we had offered tariff reductions for 69 per cent of the items and now it has been raised to 94.6 per cent," Gopal K Pillai, Special Secretary Ministry of Commerce and Industry, told the media after talks with economic officials from the Asean here.
Pillai is also the head of India's delegation to the Economic Officials Meeting. He said India has offered to substantially reduce import duty on some highly sensitive products which were of significant export interest to certain Asean members.
These were refined palm oil from 90 per cent to 60 per cent, Crude palm oil from 80 per cent to 50 per cent, black tea from 100 percent to 50 per cent and pepper from 70 per cent to 50 per cent. India at the morning talks highlighted that its revised offer provided preferential market access of 95 per cent to 100 per cent for seven Asean members and of 85 per cent or more for the other three members.
"However, the Asean is yet to table details of their liberalisation proposal under the India-Asean FTA nor given us any country-wise offer list," Pillai noted. He hoped that this would be done as soon as possible. "If our offers today does not kickstart the FTA we don't know what will," quipped Pillai.
Pillai is also the head of India's delegation to the Economic Officials Meeting. He said India has offered to substantially reduce import duty on some highly sensitive products which were of significant export interest to certain Asean members.
These were refined palm oil from 90 per cent to 60 per cent, Crude palm oil from 80 per cent to 50 per cent, black tea from 100 percent to 50 per cent and pepper from 70 per cent to 50 per cent. India at the morning talks highlighted that its revised offer provided preferential market access of 95 per cent to 100 per cent for seven Asean members and of 85 per cent or more for the other three members.
"However, the Asean is yet to table details of their liberalisation proposal under the India-Asean FTA nor given us any country-wise offer list," Pillai noted. He hoped that this would be done as soon as possible. "If our offers today does not kickstart the FTA we don't know what will," quipped Pillai.
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