India’s customs duties on most items are low
The Customs duties of India are "very" often misconstrued to be high on most items but in reality, they are low, Commerce and Industry Minister Piyush Goyal has said.
image for illustrative purpose
New Delhi: The Customs duties of India are "very" often misconstrued to be high on most items but in reality, they are low, Commerce and Industry Minister Piyush Goyal has said.
He said that the duties on technological items that are helping the Indian economy grow are very low. Actual applied rates of tariffs are lower than the agreed bound rates at WTO (World Trade Organization), Goyal told reporters on Tuesday after the 1st India-EU Trade & Technology Council (TTC) meeting in Brussels, Belgium.
Goyal said that the TTC is helpful as it is supplementing the free trade agreement negotiations and the agreement will make India-EU relationship the defining partnership of the century.
