IGI Logo

Amid concerns over the spurt in imports of precious metals from the UAE under the trade agreement, Commerce Secretary Sunil Barthwal has said that India is seeking review of certain provisions of the free trade agreement (FTA) with the UAE, which came into force on May 1, 2022. He said that India is in discussions with the UAE and there are various issues which can be discussed in the review.

Barthwal said ‘As regards Comprehensive Economic Partnership Agreement (CEPA), there are two things - one is the value addition norms and the second is reduction (of customs duties). So we are in discussion with them and there are various issues which are discussed under CEPA review. So, I think we are seeking a review with them and once we get it, then we will look at all the issues holistically’.

He further noted that ‘When a country give a concessional rate (of duty), there is a condition of meeting rules of origin. So when we do review, we look at all the aspects of it...whether the rules of origin are met or not and what is the future course of action that we will do.’ Further, when asked whether the government is looking at reviewing the new authorisation regime for monitoring imports of certain IT hardware products, the secretary said, ‘When the appropriate time comes, we will take the call’.