India, UK look to clinch trade deal in London meet

INDIA HAS TOLD the European Union (EU) to ensure that ongoing free trade agreement (FTA) negotiations give equal weight to non-tariff barriers and that regulatory frameworks remain inclusive, proportionate, and avoid restrictive trade.

- MUKESH JAGOTA

These concerns were raised by commerce and industry minister Piyush Goyal during his meeting with European commissioner for trade and economic security Maros Sefcovic in Brussels on Thursday.

The EU has some of the toughest standards on products entering into its territory. These products require multiple certifications to ensure that they comply with EU standards. In addition to these, new regulations such as the Carbon Border Adjustment Mechanism (CBAM) and the Deforestation Regulation (DR) are expected to further impact exporters.

The CBAM imposes a carbon tax on certain industrial imports, while the Deforestation Regulation restricts agricultural imports grown on land cleared of forests.