What sensitive products did India exclude from the Oman trade deal?

India excluded agricultural products like dairy, gold, jewellery, footwear, and sports goods from duty concessions with Oman.

How does India protect its farmers in the Oman trade pact?

India safeguarded farmers by keeping sensitive agricultural items, including dairy, in the exclusion category, preventing duty concessions.

What is a tariff-rate quota (TRQ) in the India-Oman agreement?

A TRQ allows duty concessions up to a specific quota; beyond that, normal import duties apply to goods like dates and petrochemicals.

Home / Business and Economy / India Shields Farmers, MSMEs in Oman Trade Deal

India Shields Farmers, MSMEs in Oman Trade Deal

18 Dec

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Summary

India excluded dairy, gold, and footwear from duty concessions with Oman.
Sensitive products were kept in exclusion categories to safeguard domestic interests.
Tariff-rate quotas offered for goods like dates and petrochemicals.

India Shields Farmers, MSMEs in Oman Trade Deal

India has strategically protected its domestic farmers and Micro, Small, and Medium Enterprises (MSMEs) by withholding duty concessions on several key sectors in its recently signed trade agreement with Oman. Agricultural products, including dairy, tea, and coffee, alongside valuable items like gold and silver, along with labor-intensive goods such as footwear and sports goods, are among those excluded from preferential tariff treatment.

This deliberate exclusion of sensitive products underscores India's commitment to safeguarding its internal markets and local producers. For goods that are of export interest to Oman but pose sensitivity to India, a tariff-rate quota (TRQ) mechanism has been employed. This approach allows for duty concessions up to a defined import quota, after which standard import duties will apply.