India-EU FTA: Wait till our report, says Commerce panel head Shanta Kumar
Updated: Apr 12, 2013 08:17:02pm
New Delhi, Apr 12 (KNN) Chairman of the Parliamentary Standing Committee on Commerce, V Shanta Kumar has asked the government not to sign the India-European Union (EU) free trade agreement (FTA) unless the panel completes the study on impact of such a pact on the domestic economy.
The Hindu Business Line quoted Kumar as saying, “I, therefore, urge you not to conclude the EU-India Broad based Trade and Investment Agreement immediately and to kindly ensure that the agreement is signed only after the committee presents its report on the subject to Parliament.”
Senior BJP leader, who is heading the Parliamentary Committee, said the FTA has significant impact on the sectors like Indian farmers, dairies, workers, financial services, local industries, intellectual property protection, government procurement, etc.
Meanwhile, in Berlin Prime Minister Manmohan Singh and German Chancellor Angela Merker indicated yesterday that India and EU are in the advanced stage of negotiations of the FTA.
Once the FTA is implemented, bulk of India-EU trade will either become duty free or will attract significantly less amount of the import levy. (KNN)
The Hindu Business Line quoted Kumar as saying, “I, therefore, urge you not to conclude the EU-India Broad based Trade and Investment Agreement immediately and to kindly ensure that the agreement is signed only after the committee presents its report on the subject to Parliament.”
Senior BJP leader, who is heading the Parliamentary Committee, said the FTA has significant impact on the sectors like Indian farmers, dairies, workers, financial services, local industries, intellectual property protection, government procurement, etc.
Meanwhile, in Berlin Prime Minister Manmohan Singh and German Chancellor Angela Merker indicated yesterday that India and EU are in the advanced stage of negotiations of the FTA.
Once the FTA is implemented, bulk of India-EU trade will either become duty free or will attract significantly less amount of the import levy. (KNN)
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