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Thu, Nov 15, 2018 | Last Updated 4:08 pm IST

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Indian import duty counters attack!

Indian import duty counters attack!
Indian import duty counters attack!
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As a counter attack to Trump's moves, India has raised customs duty on goods like Bengal gram, lentils and artemia which are imported from the United States. The increased duty hike would be implemented from August 4, as notified by Finance ministry.

        


Bengal gram and chick peas import duties have been raised to 60 per cent and lentils to 30 per cent. Besides, duty hike is applicable for apples, nuts, iron and steel, stainless steel products, tube and pipes, and screws, bolts. Boric acid and binders import duty has been increased to 7.5 per cent, domestic reagents to 10 per cent, and artemia to 15 per cent. Motorcycles imported from the US don't have duty hike. 

 Indian import duty counters attack!

This move was to retaliate against duty hike by the US government headed by Trump, on steel and aluminium products which had USD 241 million tariffs implied on India. India has pulled   US to WTO dispute settlement process for the hike in import duties of steel and aluminium.

 Indian import duty counters attack!


Indian import duty counters attack!
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