India has secured duty concessions for its agricultural exports under the free trade agreement with the European Union for various products, including processed foods, tea, coffee, spices, table grapes, sheep and lamb meat, according to the Commerce Ministry.The move is expected to help boost exports of these commodities in the 27 nations of the EU, as concessions will enhance the competitiveness of these goods.The other items that will get preferential market access in the EU include gherkins, cucumbers, sweet corn, dried onion, and some other fruits and vegetable products."India secures preferential market access for its agricultural exports, boosting competitiveness," the ministry said.It added that strategic safeguards for sensitive sectors like dairy, cereals, poultry, soymeal, certain fruits and vegetables are needed to ensure export growth and protect domestic priorities.India is not providing any import duty concessions on these goods as they are under the exclusion list. India has not given concessions in the dairy sector in any of its FTAs signed so far, as it involves the lives of small and marginalised farmers."The FTA positions Indian agriculture to capture higher value in European markets, drive sectoral prosperity, and reinforce long-term resilience through sustained livelihood and reliable income opportunities," the ministry noted.It also said that the FTA ensures that the goods exported under the pact undergo adequate processing or manufacturing for them to get the originating status and preferential access."The product-specific rules (PSRs) are balanced and aligned with existing supply chains," it said, adding that these rules will ensure substantial processing in the exporting country is undertaken while providing for adequate flexibility to source inputs from global value chains.The agreement, which is expected to come into force this year itself, will reduce the time and associated cost of compliance for Indian exporters by allowing self-certification through a statement on origin."The PSRs chart an innovative course by considering the needs of MSMEs by locking in quotas for shrimps and prawns, and downstream aluminium products, which would enable MSMEs to source non-originating inputs," it said.It added that through digitisation, information sharing, and adherence to international standards, the deal reduces trade barriers, facilitates smoother market access, and strengthens regulatory predictability for exporters.Under the pact, the EU will reduce duties from the current 0-26 per cent on certain marine products, which will help increase exports.The EU marine market for imports stood at Rs 4.67 lakh crore (USD 53.6 billion)."India's export capacity in the marine sector, currently valued at Rs 8,715 crore (USD 1 billion) to the EU," the ministry said.The FTA will boost exports of shrimp, frozen fish, and value-added seafood exports, empowering coastal communities in Andhra Pradesh, Gujarat, and Kerala.The agreement is also likely to provide a boost to Indian traditional medicine services and practitioners.In the EU countries, where regulations do not exist, AYUSH practitioners will be able to provide their services using the professional qualifications they gain in India.Read more at:https://economictimes.indiatimes.com/news/economy/agriculture/india-secures-duty-concessions-for-various-agri-products-under-fta-with-eu/articleshow/127642074.cms (ICE MUMBAI)

Fonte notizia: The Economic Times