India to ramp up trade talks with the EU, UK, ASEAN and Australia from next week
India-EU trade mustn’t stumble on digital sovereignty "The EU is advocating for stronger intellectual property protections, which India is cautious about due to concerns over generic medicines. Additionally, the EU is pressing for sustainability and labour standards in the agreement, but India is worried about their impact on its domestic regulations and industries," said trade analyst Ajay Srivastava, who is the founder of Global Trade Research Initiative (GTRI), a think tank.
With ASEAN, India will review its tariff concessions granted to members of the group including Vietnam, which allows zero-tariff imports of mobile phone components. Although India and the UK have made significant progress on their FTA talks, several challenges still need to be addressed.
The UK is pushing for zero tariffs on Scotch whisky, electric vehicles and chocolates, while India seeks duty-free access for its textiles and pharmaceuticals. According to the first government official cited above, India will not offer zero duty on Scotch whisky, but is considering offering the Australian model of tariff structure to both the EU and the UK.
India has allowed tariffs on wine from Australia with a minimum import price of $5 a bottle to be reduced from 150% to 100% on the deal’s implementation, and to 50% over the next 10 years. The duty on bottles with a minimum import price of $15 has been reduced from 150% to 75% on the implementation of the deal, and to 25% over the next decade.
Also read: India weighs softening its stand on UK FTA, expects UK to reciprocate In services, the UK wants India to liberalise its telecom, finance and legal sectors, while India is advocating for more work visas and mobility rights for its professionals. The UK has
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