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Services Gain, limited again?

A lot of ministries have given an extended wish list of products that should be kept out. It is a huge fear that by giving duty concessions to China, the government will expose the sluicegates for the entry of low-priced electronic goods that have started entering India from South Korea, Vietnam, and Japan.

For a very long time, the government has been in a conflict that the Indian IT pros and nurses will get an advantage from its conclusion to allow zero-duty import of bulk of the goods under RCEP. But numerous questions have been arising by the trade experts and industry players saying that services that are traded with the members are for now selling the agreement, which is a minute element of goods trade estimated at $225 billion in 2017-18. For an instance, China could come without paying the customs duty, which is nearly 80% of the $76 billion import. The RCEP members have cluttered India’s demand for a visa-free drive of its professionals, an arrangement which is similar to the one in European Union. The refusal comes despite ASEAN and China having a contrivance like this.

The pharma department wants elementary drugs to be omitted as an import from China has smeared out domestic companies, which means that there are domestic sympathies on the goods side too. In the same way, Gujarat Co-operative Milk Marketing Federation that owns the renowned Amul brand worries that imported milk and milk products from Australia and New Zealand will bog the market, beating the dairy sector. Summing it up, Siam too wants the automobiles and lithium-ion batteries to be excluded.

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