NEW DELHI: India is one of the most unregulated markets among major trading countries, with regulations on less than 10 per cent of its national tariff lines.
Compared to India’s 452 technical and sanitary standards notifications, the US has 8,105 notifications, China has a total of 2,900 notifications, Brazil has 3,913 notifications, the EU has
2,974 notifications; while Australia has 888 notifications in place, according to figures compiled by the Commerce Ministry.
Now, the Government is working on new standards to redress the situation. It is considering 252 new technical regulations on items such as chemicals and pharmaceuticals, toys, footwear, sports good, telecom equipment and industrial equipment, which will apply on both imports and domestic manufacture, according to a Government official.
'New technical regulations on 252 items are being considered by the Centre to be framed by the Bureau of Indian Standards. The Commerce Ministry is talking to different line Ministries, including Chemicals and Pharmaceuticals, MeitY, Heavy Industry and DPIIT, and also specific regulators. Work has already been initiated on 67 items,' the official said.
Decreasing tariffs While tariffs have been dropping across the world due to trade liberalisation, many countries have replaced these with non-tariff measures in the form of sanitary and phyto-sanitary (SPS) norms and technical barriers to trade (TBT).
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