NEW DELHI: The govt will further lengthen the cut-off date for the imposition of higher customs tasks on 29 products, together with almond, walnut and pulses, imported from america, a senior reputable said Monday.
In June, India decided to impose retaliatory price lists from August four. But it was once extended by means of some other 45 days till September 18.
"We are still in discussion with the US authorities. The deadline will be extended tonight," the federal government reputable said, adding that the cut-off date will be extended for some other 45 days till November 2.
The accountability hike transfer by means of India was once in retaliation to the March nine decision of US President Donald Trump to impose heavy price lists on imported steel and aluminium pieces, a transfer that has sparked fears of a world industry conflict.
Senior officials of India and america are in discussions to finalise one of those industry deal. Both the sides conserving two observe discussions -- to increase industry briefly and medium time period, and establish long run industry potentials.
India is urgent for exemption from top accountability imposed by means of america on certain steel and aluminium products, resumption of export advantages to certain home products underneath their Generalised System of Preferences (GSP), higher marketplace get admission to for its products from sectors, together with agriculture, car, auto parts and engineering.
As many as 3,500 Indian products from sectors corresponding to chemicals and engineering get accountability unfastened get admission to to america marketplace underneath the GSP, offered in 1976.
On the other hand, america is not easy higher marketplace get admission to for its farm and production products, together with medical gadgets.
As a part of imposition of higher import tasks, New Delhi has notified upper price lists on several products. While import accountability on walnut is to be hiked to 120 in keeping with cent from 30 in keeping with cent, accountability on chickpeas, Bengal gram (chana) and masur dal will be hiked to 70 in keeping with cent from 30 in keeping with cent. Levy on lentils will be hiked to 40 in keeping with cent from 30 in keeping with cent.
India had also dragged america to the World Trade Organization's (WTO) dispute agreement mechanism over the imposition of import tasks on steel and aluminium.
India exports steel and aluminium products price about $1.5 billion to america every year.
Exports to america in 2016-17 stood at $42.21 billion, while imports had been $22.3 billion.
Other products which would attract upper tasks come with boric acid, phosphoric acid, diagnostic reagent, flat rolled products of iron, certain flat rolled products of stainless steel.
India's exports to america in 2017-18 stood at $47.nine billion, while imports had been $26.7 billion. The industry steadiness is in favour of India.
In June, India decided to impose retaliatory price lists from August four. But it was once extended by means of some other 45 days till September 18.
"We are still in discussion with the US authorities. The deadline will be extended tonight," the federal government reputable said, adding that the cut-off date will be extended for some other 45 days till November 2.
The accountability hike transfer by means of India was once in retaliation to the March nine decision of US President Donald Trump to impose heavy price lists on imported steel and aluminium pieces, a transfer that has sparked fears of a world industry conflict.
Senior officials of India and america are in discussions to finalise one of those industry deal. Both the sides conserving two observe discussions -- to increase industry briefly and medium time period, and establish long run industry potentials.
India is urgent for exemption from top accountability imposed by means of america on certain steel and aluminium products, resumption of export advantages to certain home products underneath their Generalised System of Preferences (GSP), higher marketplace get admission to for its products from sectors, together with agriculture, car, auto parts and engineering.
As many as 3,500 Indian products from sectors corresponding to chemicals and engineering get accountability unfastened get admission to to america marketplace underneath the GSP, offered in 1976.
On the other hand, america is not easy higher marketplace get admission to for its farm and production products, together with medical gadgets.
As a part of imposition of higher import tasks, New Delhi has notified upper price lists on several products. While import accountability on walnut is to be hiked to 120 in keeping with cent from 30 in keeping with cent, accountability on chickpeas, Bengal gram (chana) and masur dal will be hiked to 70 in keeping with cent from 30 in keeping with cent. Levy on lentils will be hiked to 40 in keeping with cent from 30 in keeping with cent.
India had also dragged america to the World Trade Organization's (WTO) dispute agreement mechanism over the imposition of import tasks on steel and aluminium.
India exports steel and aluminium products price about $1.5 billion to america every year.
Exports to america in 2016-17 stood at $42.21 billion, while imports had been $22.3 billion.
Other products which would attract upper tasks come with boric acid, phosphoric acid, diagnostic reagent, flat rolled products of iron, certain flat rolled products of stainless steel.
India's exports to america in 2017-18 stood at $47.nine billion, while imports had been $26.7 billion. The industry steadiness is in favour of India.
Govt may extend deadline for imposition of higher duties on 29 US products
![Govt may extend deadline for imposition of higher duties on 29 US products]()
Reviewed by Kailash
on
September 18, 2018
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