As India gears up to forge a raft of balanced free trade agreements (FTAs), a Parliamentary panel has recommended that New Delhi include a review mechanism in such pacts to ensure “mid-way course correction for any asymmetries” in trade with the partners. A report by the Parliamentary Standing Committee on Commerce, submitted on Tuesday, also called for expeditious conclusion of FTAs to reap benefits.
An FE analysis suggests, in five out of six of India’s prominent FTAs, which came into force between 2006 and 2011, have exacerbated New Delhi’s trade balance. This significantly contributed to the country’s unease over getting into fresh pacts for about a decade before the government decided to sign a deal with the UAE last month. Another interim trade deal with Australia will be announced anytime now.
The panel said that India should leverage the ‘China Plus One Strategy’ to emerge as an alternative investment destination for multinational companies. The growing preference of firms located in Europe and the US to shift from China to other manufacturing bases offers a golden opportunity for India that needs to be taken advantage of, it said. India should pursue FTAs or preferential trade pacts with the countries that seek to invest here under the strategy, the report said.
Importantly, the House committee has said that the imposition of minimum alternate tax and the introduction of sunset clause for income tax relief would impact the competitive advantages of special economic zone units. “The committee recommends that the government should ensure the continuation of fiscal benefits and extension of a sunset clause to retain the competence of SEZ units,” the report said. It also added that SEZs can have the benefits of Remissions of Duties and Taxes on Exported Products (RoDTEP) scheme, which is now applicable to domestic exporters.
It has also expressed concerns over the reduction in export incentives and suggested some of the sectors that have been kept out of the purview of the government’s flagship tax remission schemes be included. The sectors include pharmaceuticals, organic and inorganic chemicals and iron and steel.
The panel also suggested that the foreign trade policy (FTP) be firmed up within the stipulated time-frame. The FTP for 2015-20 was extended by two years through March 2022 following the Covid outbreak to ensure policy continuity.
On exports, the panel said: “The committee recommends that the department (of commerce) should identify the infirmities and opt for a more focused approach in increasing market access of the sectors that exhibit a downtrend in exports.”
译文：随着印度准备制定一系列平衡的自由贸易协定 (FTA)，一个议会小组建议新德里在此类协定中纳入审查机制，以确保在与合作伙伴的贸易中“对任何不对称进行中途修正”。周二提交的议会商业常设委员会的一份报告也呼吁尽快缔结自由贸易协定以获取利益。
FE 分析表明，在 2006 年至 2011 年间生效的印度主要自由贸易协定中，有六分之五加剧了新德里的贸易平衡。在政府上个月决定与阿联酋签署协议之前的大约十年，这极大地导致了该国对签订新协议的不安。与澳大利亚的另一项临时贸易协议将随时公布。
该小组表示，印度应利用“中国加一战略”成为跨国公司的替代投资目的地。它表示，位于欧洲和美国的公司越来越倾向于从中国转移到其他制造基地，这为印度提供了一个需要利用的黄金机会。报告称，印度应与寻求在该战略下投资的国家签订自由贸易协定或优惠贸易协定。
重要的是，众议院委员会表示，征收最低替代税和引入所得税减免日落条款将影响经济特区单位的竞争优势。报告称：“委员会建议政府应确保继续提供财政福利并延长日落条款，以保留经济特区单位的能力。” 它还补充说，经济特区可以享受出口产品关税和税收减免（RoDTEP）计划的好处，该计划现在适用于国内出口商。
它还对出口激励措施的减少表示担忧，并建议将一些被排除在政府旗舰税收减免计划范围之外的行业包括在内。这些行业包括制药、有机和无机化学品以及钢铁。
专家组还建议在规定的时间内确定外贸政策（FTP）。在 Covid 爆发后，2015-20 年的 FTP 延长了两年至 2022 年 3 月，以确保政策的连续性。
相关推荐: 2022全球电商平台最新排名！原来热门市场和热销品类是这些！
厦门商城系统开发 前不久Webretailer编制了一份2022年全球电商平台最新排名，里面有全球主要电商市场和品类的电商平台访问数据。 其中北美消费者为电商平台创造了最多的流量，每月有54亿次访问，月访问量超过100万的电商平台数量高达48个。 如果你正打算…
码刀科技（www.lekshop.cn）是国内知名企业级电商平台提供商，为企业级商家提供最佳的电商平台搭建（多种模式电商平台搭建：B2B/B2B2C/B2C/O2O/新零售/跨境等）、平台管理系统开发及互联网采购解决方案服务, 联系客服了解更多.
