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India starts talk with UK, EU on concessional sugar exports post Brexit

Currently, the EU permits India to export 10,000 tonne of sugar at concessional duty rates under the CXL quota

Press Trust of India  |  New Delhi 

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India has initiated talks with the and European Union (EU) to work out the quantum of at concessional rates following the Brexit, sources said.

Currently, the EU permits India to export 10,000 tonne of sugar at concessional duty rates under the CXL quota.

However, after the exit of the from the EU, this quantity needs to be re-negotiated, they said.

By availing the CXL concession on export to the EU, Indian traders export sugar at relatively low customs duty.

Similarly, officials of India, the EU and the are also discussing modalities for carrying forward the anti-dumping duties which have been imposed on companies in the EU.

The EU, an economic and political bloc of 28 countries, allows people to move freely and work in any of these nations. It also permits free trade among the member countries.

The EU is a major trading partner of India. India's exports to the EU in 2018-19 stood at USD 57.17 billion in 2018-19, while imports were $58.42 billion in the same financial year.

Similarly, India-UK bilateral trade has increased to $16.87 billion in 2018-19 from $14.5 billion in the previous financial year.

In a referendum on June 2016, people of the UK voted in favour of by a thin majority. There is a deadline of October 31 for

First Published: Sun, September 08 2019. 10:35 IST
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