India should prepare exporters to deal with EUDR compliance norms
The regulation will hit India's agricultural exports worth $1.3 bn to the EU starting December 2024, says think tank GTRI
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New Delhi India should take measures such as increasing awareness among exporters and proper implementation of track and trace systems to deal with compliance requirements of the European Union's Deforestation Regulation (EUDR) as it would hit agri exports, a report said on Tuesday.
This regulation will hit India's agricultural exports worth $1.3 billion to the EU starting December 2024, think tank Global Trade Research Initiative (GTRI) said. “Indian exports may take a bigger hit than exports from other competing countries to the EU because of India's higher deforestation rate,” the report said, adding India's exports will also be affected by the complex compliance requirements of the EUDR and the EU's Foreign Subsidies Regulation (FSR). Even if the exporter is certain that a product is not grown on the deforested land, he/she still has to follow all elaborate compliance requirements, GTRI Co-founder Ajay Srivastava said.
