Ministry of Commerce’s 100-day agenda: standard operating procedures to accelerate free trade agreements, launch e-commerce hubs and more

As the newly elected central government begins work, a program is being developed for the first 100 days aimed at achieving key results for each ministry. Establishing e-commerce hubs, e-connect portal and Global Trade Promotion Organization (GTPO) are among the goals of the Ministry of Commerce in the first 100 days of the government.

Government sources told CNBC-TV18 that the Ministry intends to identify non-tariff barriers in various geographical regions and reconsider parts of the SEZ (Special Economic Zones) Act to enable the sale of products to areas outside SEZs.

The Ministry of Commerce is set to finalize the standard operating procedure (SOP) for free trade agreements (FTAs) to streamline and speed up talks with countries and trading blocs. The government intends to end the ongoing talks on a free trade agreement with Oman, where India has expressed reservations over the import of petrochemical products from the West Asian country in view of a significant increase in domestic production capacity in the country.

Talks on a free trade agreement with the UK are not likely to resume until after the UK general election in July, with discussions on the Bilateral Investment Treaty (BIT) and minimum import price (MIP) for Scotch whiskey ongoing between the two countries.

Government sources pointed out that India has opposed the European Union (EU) decision on CBAM (Carbon Border Adjustment Mechanism), calling it “illegal” and worthy of challenge at the WTO.

To enable Indian industries to sell green steel and aluminum, the Indian government has sought to price carbon emissions in line with Indian standards and has also identified green box subsidies necessary for a clean economy.