NTBs to be considered to benefit from bilateral trade
10 Oct '06
1 min read
Confederation of Indian Industry (CII) informed that non-tariff barriers (NTB) in Indian and European Union (EU) markets must be considered, so that both nations can benefit from bilateral trade and investments.
The two sides will finalize a bilateral trade and investment agreement at India-EU Summit at Helsinki.
About 23.38 percent of India's net exports to EU comprises of NTBs in areas of carpets (86.2 percent), textiles and garments (65.85 percent) and leather (31.35 percent).
CII Principal Advisor Jayanta Roy has stated in her study that India is one of EU's targets. EU affects 3.5 percent of Indian exports compared to global average of 1.5 percent. CII stated that India must focus on trade facilitation and collaborate with EU nations to see to it that time period for goods at ports be minimized.
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