Page 17 - Tariffs

Govt could discard proposed DESH Bill, amend SEZ Act: Details here

The Ministry of Commerce and Industry is eager to permit units in these zones to sell in areas outside SEZs, called domestic tariff areas (DTA) without the payment of customs duties

Swift removal of non-tariff barriers key to trn-dollar exports: GTRI rpt

India needs to act in a fast-track manner for removal of non-trade barriers (NTBs), being faced by domestic exporters in different countries like the US, China and Japan, to achieve one trillion dollar outbound shipment target for goods by 2030, a report by think-tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) has suggested a two-pronged strategy to mitigate the influence of NTBs on exports. It asked for upgrading domestic systems, in cases where Indian products are rejected due to quality issues; and retaliating if unreasonable standards or rules continue to obstruct exports from New Delhi. "Many of India's exports suffer due to time taking prior registration requirements and unreasonable domestic standards/rules in many countries. India must talk to partner countries for reasonable solutions, GTRI Co-founder Ajay Srivastava said. He added that many of India's food and agriculture products face problems due to higher pesticide levels, presence of pests and .

UBS 'double upgrades' Gail India to buy; sees 25% upside in the stock

At the bourses, the stock surged over 3 per cent in intra-day deals to Rs 122.7 on the BSE on Monday. In comparison, the S&P BSE Sensex traded flat at around 66,245 levels

Rationalise tariff on mobile parts to encourage other countries: Industry

Vietnam's weighted average tariff, taking into consideration its sprawling FTAs with countries, is a mere 1.1 per cent against India's 7 per cent

WTO ruling against India in tech tariffs dispute with European Union

India, however, believes that such retaliations will eventually be detrimental to the trade on both sides

India exploring options after WTO panel ruling, rules out immediate impact

The statement comes a day after Business Standard reported quoting an EU spokesperson that EU may impose retaliatory tariffs on Indian goods if New Delhi doesn't abide by the WTO ruling

Unified tariff structure for over a dozen gas pipelines to start from Apr 1

Under the new regime, industrial buyers will be charged a fixed tariff for transport of gas over three zones, up from two earlier

Unified tariff structure for gas pipelines to start from April 1

Industrial customers transporting fuel over larger distances to now pay less

Countering non-tariff barriers

Tanu Singh's book demystifies the World Trade Organization jargon on tariffs and is a valuable source of information for both industry and academia

Budget 2023 wishlist: ICEA calls for rationalisation of duties on parts

India Cellular and Electronics Association (ICEA) has batted for rationalisation of duties on parts and components of mobile phones and sub-assemblies, saying some of the smaller tariffs should be done away with, while all inputs duties on 'mechanics' should be removed immediately. The industry body has also suggested that the government should ease the Basic Customs Duty (BCD) on high-end phones. The 20 per cent customs duty on high-end phones should be continued only with a maximum BCD pegged at Rs 4,000 per device, the association has said in its Budget wishlist. Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2023-24 on February 1. ICEA contended that tariffs on inputs and components are a barrier to increasing localisation. It has said that some of the smaller tariffs should be done away with, to support local businesses and bring ease of doing business. In this regard, ICEA suggested that the tariff of 2.75 per cent (including social welfare surcharge

Three points for the Budget

Of the many things to watch in the Budget, three things-growth, fiscal deficit and stance on trade-will receive special attention from analysts. Getting the tone right will be crucial

US agriculture associations fear market loss to India's FTA partners

In June 2019, India hiked tariffs on 28 items exported by the US, including almonds, apples, walnuts

Govt to discontinue import of crude soybean oil under tariff rate quota

The government on Wednesday said that it has decided to discontinue import of crude soybean oil under tariff rate quota (TRQ) from April 1 this year. TRQ is a quota for a volume of imports that will enter India at specified or nil duty, but after the quota is reached, the normal tariff applies to additional imports. "Last date for import of crude soybean oil under TRQ has been revised to March 31, 2023. Further, no allocation of TRQs for import of crude soybean oil shall be made for 2023-24," the directorate general of foreign trade (DGFT) said in a public notice. The government has earlier exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soybean oil and crude sunflower oil each, to ease domestic prices. The duty-free import of 20 lakh MT per year was earlier applicable for two financial years -- 2022-23 and 2023-24 -- for crude soybean oil and crude sunflower oil. Now it is applicable only for crude sunflower see

Sri Lanka to implement cost-reflective tariff formula for electricity

Amid the ongoing economic crisis, Sri Lanka's cabinet of ministers has approved the implementation of a cost-reflective electricity tariff formula

Expand PLI scheme for electronics inputs and components, ICEA tells Centre

The organisation has projected that components and sub-assemblies could provide a $100-billion export opportunity in the next five years

Remove price cap and channel bundling restrictions: Broadcasters tell TRAI

Industry lobby responds to regulator's consultation paper on the New Tariff Order (NTO 2.0) in the sector.

Jio joins Bharti Airtel and Vodafone Idea, goes for 20% hike in tariffs

Analysts had guided for a tariff revision from Jio after competitors decided to go for a hike

India, US set to revive Trade Policy Forum after four years

US Trade Representative says priority is to iron out market-access restrictions

Need assurance from India on investment protection: UKIBC's Richard Heald

In a Q&A, UKIBC's group chair lists out three areas that need focus - tariff reduction in some sectors, removal of non-tariff barriers on goods, and aligning data protection rules

India must negotiate well on free trade agreements, say experts

'Reduction in tariff equally crucial while working towards any agreement'