India secures bigger EU steel quota ahead of FTA
New Delhi, Sept. 18 -- India has secured favourable concessions in advance for its steel, fisheries and shipping sectors from the European Union, even as the two sides move towards signing their "mother of all FTA" by December and operationalising it early next year, a senior commerce ministry official said.
Some concessions under the yet-to-be-signed India-EU free trade agreement (FTA) have already taken effect, including an increased quota for Indian steel exports to the EU, the official said, requesting anonymity.
The EU has imposed a quota system on steel imports from all countries as part of measures to address overcapacity and protect its domestic industry. Under the system, the EU sets a duty-free quota of 18.3 million tonnes (mt) an...
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