Mar 27, 2013 (LBO) – India has raised a quota of Sri Lanka-made apparel and the validity of a sanitary permit for meat had been doubled giving more freedom for Indian nationals to buy goods from the island. Free Trade Agreements were then used to progressively give freedom to the poorer people to trade.
Quotas and rules of origins were used as a compromise to give more time for powerful production lobbies to continue to make excessive some profits at the expense of the domestic consumer, allowing authorities to give some liberty to domestic consumers.
Cheaper imports leave more money in the hands of consumers, raising their living standards by expanding the ability to buy other goods and especially services, which can boost domestic output and employment.
The Indian High Commission said the apparel quota relaxation came following request made to visiting Indian commerce and industry minister in August 2012.
In January, at the 8th India-Sri Lanka joint commission meeting it was agreed to double bi-lateral trade to 10 billion US dollars in the next three years.
India said Sri Lankan exports had reached 720.89 million US dollars in 2011-2012 and from April 2012 to December 2012 Sri L