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AEPC urges government for a pre-FTA preferential trade deal with UK

  

AEPC has urged the Indian government to strike a pre-FTA preferential trade deal to remove tariff disadvantages that are faced by Indian apparels in the UK. The council believes, tariffs hamper India’s prospects in the UK market. India’s apparel exports to the UK declined by 0.8 per cent to $ 1,606 million in 2019 from $1,619 million in 2018, cutting the UK’s share in India’s exports to 9.7 per cent from 10.3 per cent.

India has been facing a tariff disadvantage of 9.6 per cent as against countries like Bangladesh due to the EU’s Generalized Scheme of Preferences (GSP), which the UK plans to continue offering to the 47 least developed countries (LDCs). This disadvantage will continue after the implementation of Brexit in January 2021 A Sakthivel, Chairman, AEPC has therefore requested the government to remove this tariff disadvantage through a pre-FTA preferential trade deal.

 
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