{"id":145137,"date":"2021-11-06T20:10:17","date_gmt":"2021-11-06T14:40:17","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=145137"},"modified":"2021-11-06T20:10:17","modified_gmt":"2021-11-06T14:40:17","slug":"india-must-tread-with-caution-on-early-harvest-deals-say-experts","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-must-tread-with-caution-on-early-harvest-deals-say-experts\/","title":{"rendered":"India must tread with caution on early-harvest deals, say experts"},"content":{"rendered":"\n<h5><strong>What is the news?<\/strong><\/h5>\n<p>India is about to sign at least three <strong>early-harvest agreements <\/strong>and <strong>negotiating<\/strong> free trade agreements (<strong>FTAs<\/strong>) with the UK, the European Union, the United Arab Emirates, and Australia. Until now, India has signed an early-harvest deal with Thailand and Singapore.<\/p>\n<p>India is approaching with a strategy to first ink a mini trade or early-harvest agreement(EHA), which will be a precursor to an FTA that will be signed eventually.<\/p>\n<p>However, some experts cautioned citing past experiences with trade deal, saying the country must be circumspect in such deals.<\/p>\n<h5><strong>What are the advantages of signing EHAs?<\/strong><\/h5>\n<p>Signing EHA&#8217;s is a good strategy since it signals commitment from both nations and starts trade in a small way. FTA talks with India, signals the world wanting to do business with India.<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Must Read<\/strong>: <strong><a href=\"https:\/\/forumias.com\/blog\/indias-early-harvest-trade-deals-could-run-into-trouble\/\"><span style=\"color: #0000ff;\">India\u2019s \u2018early harvest\u2019 trade deals could run into trouble<\/span><\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5><strong>What are concerns\/issues regarding trade deals which India must consider?<\/strong><\/h5>\n<p>Some experts believe the targets are too big right now and we\u00a0are <strong>understaffed<\/strong> at present.<\/p>\n<p>India should be mindful of the <strong>past experience of FTAs<\/strong>, especially concerning EHAs, since they have resulted in adverse developments for India. Besides, it also expanded <strong>trade deficit.<\/strong><\/p>\n<p>FTA with Thailand <span style=\"background-color: var(--global--color-background); color: var(--global--color-primary); font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">also<\/span> <span style=\"background-color: var(--global--color-background); color: var(--global--color-primary); font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">had an EHA component. It resulted in an <strong>inverted duty structure<\/strong> and India suffered quite a bit.<\/span><\/p>\n<p>Bilateral deals should be cast as widely as possible and not riddle them with <strong>exceptions<\/strong>. It is the exceptions that make them bad.<\/p>\n<p><strong>Source:<\/strong> This post is based on the article \u201c<strong>India must tread with caution on early-harvest deals, say experts<\/strong>\u201d published in <strong>Business Standard<\/strong> on 05 November 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the news? India is about to sign at least three early-harvest agreements and negotiating free trade agreements (FTAs) with the UK, the European Union, the United Arab Emirates, and Australia. Until now, India has signed an early-harvest deal with Thailand and Singapore. India is approaching with a strategy to first ink a mini&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-must-tread-with-caution-on-early-harvest-deals-say-experts\/\">Continue reading <span class=\"screen-reader-text\">India must tread with caution on early-harvest deals, say experts<\/span><\/a><\/p>\n","protected":false},"author":10335,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,9],"tags":[],"class_list":["post-145137","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":2,"cached_at":"","cached_date":1700582139},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/145137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10335"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=145137"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/145137\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=145137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=145137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=145137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}