India-EU Trade Pact: Safeguarding Market Access

The India-EU trade pact introduces special mechanisms to address regulatory changes that could disrupt trade. The rapid response mechanism (RRM) and non-violation complaints (NVCs) provisions allow affected nations to take corrective measures, ensuring the pact's benefits are maintained despite future challenges.

The recently concluded India-EU trade pact contains two special provisions to counter future regulatory challenges that might obstruct trade benefits. As highlighted by a commerce ministry official, these provisions are key to defending market access concessions and maintaining the benefits of the agreement for exporters.

The Rapid Response Mechanism (RRM) is a central feature, promising swift action against any new regulations jeopardizing trade between the regions. In case issues cannot be resolved at the technical level, they will escalate to the ministerial level for a solution, marking a significant step forward in bilateral trade relations.

Moreover, the Non-Violation Complaints (NVCs) provision is designed to handle scenarios where new measures impair pact benefits without explicitly breaching it. These robust mechanisms address India's apprehensions about EU regulations and protect the overall agreement's advantages.

(With inputs from agencies.)