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of <h1>India May Exit Trade Deal Over Sri Lanka's Alleged Copper Export Violations; Six-Week Ultimatum Issued.</h1> The Indo-Sri Lanka Free Trade Agreement has led to a significant increase in copper imports from Sri Lanka to India, causing harm to the Indian domestic industry. This surge, from 1,775 MT in 2001 to 47,430 MT in 2002, is attributed to traders circumventing the 35% value addition requirement by under-invoicing raw materials. Sri Lanka lacks the facilities to meet this value addition norm genuinely. Consequently, India is considering withdrawing from the agreement under Article VIII unless Sri Lanka halts the export of copper strips and profiles within six weeks from July 18, 2003.
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