Non-trade barriers major block in $1-trn exports target

New Delhi: India needs to act in a fast-track manner for removal of non-trade barriers (NTBs), being faced by domestic exporters in different countries like the US, China and Japan, to achieve one trillion dollar outbound shipment target for goods by 2030, a report by think-tank GTRI said on Tuesday.

The Global Trade Research Initiative (GTRI) has suggested a two-pronged strategy to mitigate the influence of NTBs on exports. It asked for upgrading domestic systems, in cases where Indian products are rejected due to quality issues; and retaliating if unreasonable standards or rules continue to obstruct exports from New Delhi.

“Many of India’s exports suffer due to time taking prior registration requirements and unreasonable domestic standards/rules in many countries. India must talk to partner countries for reasonable solutions,” GTRI Co-founder Ajay Srivastava said.