New Delhi, Dec 26 (KNN) The Ministry of Commerce and Industry has sought inputs from the industry bodies on inputs on rules of origin under the proposed India-Israel Free Trade Agreement (FTA).

With reference to the proposed FTA between India and Israel, the Ministry in a communication to the industry bodies said, “One of the tracks in the proposed FTA would be the rules of origin. These are rules conferring the origin to goods for availing of tariff (or customs duty) preferences for exports under the proposed FTA.

These could include criteria such as wholly originating, change in tariff classification (CTC), value addition, any technical rule etc,” it added.

Firstly, one of the inputs sought by the Ministry is whether there is a need to have a general rule of origin or should negotiations on product specific rules (PSRs) should be started.

In this context, the Ministry has asked the industry bodies to send inputs at the HS 6 digit level on the possible rules of origin under the India-Israel FTA. (KNN Bureau)