India's New Export Triumph: Secured EU Duty Concessions

India has secured duty concessions for its agricultural exports under the free trade agreement with the European Union. This move aims to enhance competitiveness, boost exports, and support domestic priorities. Strategic safeguards will protect sensitive sectors, while digitization eases compliance for exporters. The agreement promises growth for Indian agriculture and traditional medicine services.

India has made a significant breakthrough by securing duty concessions for its agricultural exports under a free trade agreement with the European Union. The Commerce Ministry announced that various products, including processed foods, be granted concessions, enhancing their competitiveness across 27 EU nations.

The preferential market access extends to products like tea, coffee, spices, and table grapes, while strategic safeguards will protect sensitive domestic sectors such as dairy. This pact, not providing import duty concessions, ensures benefits to local farmers, especially small and marginalized ones.

The agreement, anticipated to commence this year, introduces measures to reduce compliance costs for exporters through self-certification. The European concessions also pertain to marine exports, augmenting opportunities for coastal communities in Andhra Pradesh, Gujarat, and Kerala, along with boosting traditional medicine services in the EU.

(With inputs from agencies.)