India To Offer Tariff Cuts To 31 Countries

The GSTP concessions were to be finalised by March. But the negotiations were postponed to June. In June also the negotiations remained inconclusive and were again postponed to end-October.

India had, in June, concluded tariff negotiations with 8 countries. At that time, the country got tariff concessions ranging from 10 per cent to 70 per cent in 43 items from these countries and offered import duty cuts in 32 items ranging from 10 per cent to 30 per cent, said commerce ministry sources.

The eight countries with whom negotiations have been concluded include Colombia, North Korea, Morocco, Indo-nesia, Cuba, Republic of Korea, Peru and Rumania.

 

Negotiations will now resume with the other 31 countries at the fifth session of the second round of negotiations.

These negotiations are held among the G-77 countries. Thirty nine countries are participating in the negotiations.

This October meeting is expected to be the concluding session of this second round of negotiations.

The ministerial meeting of the GSTP group is to be held in April 1997 in Havana to decide on the future course of negotiations.

The concessions to be agreed upon by a total of 40 countries will be finalised by June earlier. An official of the commerce ministry said, tariff reductions to be given and received by India have not been concluded as yet; we have certainly moved further and have had detailed consultations.

Sources said Indias offer would depend on what other countries were willing to offer on a reciprocal basis.

As a result of these negotiations, India will have to cut tariffs on various commodities.

Officials said that India and the other negotiators have been able to narrow down areas of discussions/concessions.

Indias offer would depend on what the other countries are willing to offer on a reciprocal basis. As a result of the negotiations, tariffs on various commodities will have to be reduced.