INDIA: Study commissioned to rationalise Rules of Origins
9 March 2007
NEW DELHI: A study has been commissioned by the government to rationalise various provisions in Rules of Origins (RoO) contained in many agreements; Commerce Secretary GKPillai said here on March 07.
He was stating this while inaugurating a seminar on Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) on the Indian textiles and clothing industry organised jointly by the Confederation of Indian Textile Industry (CITI) and Centre for Trade and Development (CENTAD) here.
Commerce Secretary GKPillai says that the DEPB scheme is likely to be rolled over until an alternative scheme is introduced.
This is aimed at coming out with a unified Rule that can be universally applied for all agreements, simplifying the rules of the game for the Indian textiles business.
Pillai called upon the textiles industry to be more aggressive and proactive in trade negotiations conducted at the time of conclusion of FTAs and PTAs so that their interests were not bypassed by the developed countries.
India Inc should negotiate for a paradigm whereby the reciprocity expected from Indians and their counterparts overseas is balanced; he says.
Mostly, he feels, settling for an unrealistic co-efficient vis-a-vis developed countries compromises Indian business interests.
He explains the different stages of FTAs and PTAs negotiations that the country has embarked upon.
Pillai says, in case of Safta, India being a major textiles player in the region, trade balances are heavily tilted in favour of the country.