From The Economic Times – India seeks to change the small and medium enterprise (SME) definition in order to gain fee concessions under the EU’s REACH standards.
It has also asked the EU to allow Indian exporters of chemicals and other products, who have to comply with REACH regulations, to go in for direct registration of their products with the authorities instead of appointing EU-based ‘only representative’ to save on costs.
Delhi raised the issue at a recent meeting of the World Trade Organisation’s Committee on Technical Barriers to Trade. REACH, which stands for registration, evaluation, authorisation and restriction of chemicals, was implemented in 2007 to restrict the levels of specific chemical substances in all imported goods into the EU.
The Indian Chemical Council had recommended that the government should constitute a fund for the reimbursement of REACH registration expenses.
Please follow the link for the full story and more information. The results of a change in the SME definition could have a large impact on Indian business and other countries importing to the EU.