EU seeks huge duty cuts on auto, wines in its FTA with India

PTI, NEW DELHI: The European Union has sought substantial reduction or even elimination of duties in export of its automobiles, wines and spirits to India as a "must have" in the free trade agreement being negotiated between the two sides.

While India’s negotiators in the Commerce Ministry have received the necessary mandate from Prime Minister Manmohan Singh-headed Trade and Economic Relations Committee (TERC), they would like to have a trade-off between yielding on automobile sector and gaining extra EU market for Indian agriculture, sources said.