Friday, October 24, 2014
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FTAs not hurting domestic manufacturing: Commerce ministry
NEW DELHI, Oct 20 (Agencies): Brushing aside concerns of Indian industry over free trade agreements (FTAs), senior commerce ministry officials today said it has not led to any spurt in imports or export of raw materials. A Commerce Ministry's study and analysis on impact of FTAs have found that "the imports have not increased to any level that would create concerns and we have not become suppliers of raw materials. This is good part," the officials said. However, officials did not provide any concrete data to substantiate their claims on the impact of FTAs on domestic manufacturing. Imports of intermediate goods have increased which means that India is becoming part of the regional value chain of South Asia, they said adding Indian exporters and industry are not able to exploit these p...
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