(a) whether the Government is planning to enter into a Free Trade Agreement (FTA) with the UK, EU, UAE and Australia;
(b) if so, the details thereof;
(c) whether the Government is considering extraordinary measures to safeguard the interest of local traders/businesses like dairy sector during negotiations; and
(d) if so, the details thereof?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY
(SMT. ANUPRIYA PATEL)
(a) & (b): Yes Sir. India is currently negotiating FTAs with the UK, EU, UAE and Australia. These agreements are comprehensive in nature and cover Trade in Goods, Services, Investments, Rules of Origin and other subjects.
(c) & (d): During the course of FTA negotiations, stakeholders including industry representatives, Apex Chambers of Commerce and Industry, Industry Associations as well as the Administrative Ministries and Departments are consulted from time to time. In order to protect the interests of the domestic industry, local traders and agriculture sector, 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.
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