INDIA AND THE UK are close to reaching common ground on import duties and other non-tax matters on whisky and other spirits in their negotiations on the imminent free trade agreement, according to a source.
The duties on whisky and automobiles are the two most sensitive issues in the FTA talks as far as India is concerned.
In the auto sector, reduction of tariffs on imports from the UKwould be calibrated in a way that its impact on local manufacturing is minimal, an official said. Several rounds of discussions have been held with local players too before finalising India's stand. Some of the key details are close to being agreed to, the official added.
In the spirits trade, too,both countries have narrowed their positions on immediate duty cuts, the speed of cuts in coming years, and other conditions, the source added.
Diese Geschichte stammt aus der August 18, 2023-Ausgabe von Financial Express Mumbai.
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