Duty concessions on auto components in  FTA need calibrated approach: Assocham Prez

NEW DELHI, Dec 10: Assocham President Nirmal Kumar Minda has cautioned against a blanket reduction in import duties on auto components under the proposed trade pact with the EU, saying such concessions must be “calibrated” to avoid hurting domestic manufacturers, particularly MSMEs. He said that if duty concessions to the European Union (EU) under the proposed agreement provide domestic players access to advanced technology, larger markets and stable supply chains, there is merit in considering them, particularly for products where India has a cost advantage. “But a blanket reduction may hurt domestic suppliers, particularly MSMEs, as EU components often come with strong scale, automation and subsidies,” he told PTI in an emailed interview. India and the 27-nation EU bloc have bee