Our Bureau New Delhi, Feb. 1
The Commerce Department has launched a trade portal enabling exporters to access information related to various trade deals struck with countries and regions that could help them target potential markets. The portal has an online database of preferential tariff of top 25 destinations with which India has entered into regional or bilateral agreements or variants of them. It also provides the normal tariffs existing in these countries so that the exporters know the margin of preference and the advantage they would enjoy in each market. There is special focus on information related to the South Asian and South East Asian countries, an official release said.
“One big criticism of the trade pacts the country has signed over the last decade is that most exporters do not have enough information to take advantage of these,” a Commerce Department official told Business Line. With the launch of the portal, we hope to address the concern to a large extent, the official added. The portal was launched by Commerce Secretary S.R. Rao.
Information on various technical details including the Rules Of Origin that define the minimum value addition required for a product to qualify as one originating in the exporting country, quality norms prescribed under Sanitary and Phytosanitary Measures and Technical Barriers to Trade or technical requirements of various products in different countries is also provided in the portal. It provides a search criteria based on HS Code and/or product names, the release added.
Rao said the Government will try to expand the contents of the portal by including other trading partners and the task of maintenance will be on the Indian Institute of Foreign Trade and the Department of Commerce. India has signed trade agreements with a host of countries and regions that includes the Asean, Singapore, Malaysia, Japan, South Korea, Sri Lanka, a number of Latin American countries and the SAARC region. (The Hindu Businessline)