India is reviewing tariff concessions on products like Scotch whiskey if the UK does not address concerns over steel quotas and duties before ratifying a trade agreement. The treaty's implementation is indefinitely deferred.
Commerce Minister Piyush Goyal stated India has never offered tariff concessions in the dairy sector under any free trade agreement, including pacts with EU, UK, Australia, and New Zealand. He cited the need to protect small Indian farmers with limited cattle from large foreign farms. The India-New Zealand FTA includes investment arrangements allowing NZ firms to import dairy raw materials, process them in India, and re-export 100% of products without entering the domestic market.
