Indian industry body opposes India-EU trade liberalisation
Society of Indian Automobile Manufacturers (SIAM) says that the trade pact would not benefit domestic automotive firms.
Automotive industry body the Society of Indian Automobile Manufacturers (SIAM) has opposed the proposed trade liberalisation agreement between India and the European Union. A Press Trust of India report quotes the group as saying that the trade pact would not benefit domestic automotive firms. "FTAs [free-trade agreements] with competing countries do not benefit [the] Indian automobile industry, it is against the concept of 'Make in India' for local value addition and local employment and as such completely built units of vehicles and engines should be kept [on] India's negative list under [the] India-EU FTA," said the group in a white paper.
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