Govt Removes Additional Duties Levied On Certain US Goods
The Ministry of Finance announced the removal of duties on the products, including chickpeas, lentils (Masur), apples, walnuts in shells, and almonds fresh or dried, as well as almond shelled.
The government has removed additional duties levied on about half a dozen US products, including chickpeas, lentils, and apples. These import duties were imposed in 2019 after the US administration increased tariffs on certain steel and aluminium products. At the time India levied duties on 28 US products in retaliation to the US' move.
Now, in a notification dated September 5, the Ministry of Finance announced the removal of duties on the products, including chickpeas, lentils (Masur), apples, walnuts in shells, and almonds fresh or dried, as well as almond shelled.
The ministry said that the notification will come into force on September 6, 2023. The move comes ahead of the upcoming G20 Summit scheduled for September 9-10. US President Joe Biden will visit India and hold a bilateral meeting with Prime Minister Narendra Modi on Friday.
Notably, as per a PTI report, during Prime Minister Modi's state visit to the US in June, both nations made the decision to resolve six WTO (World Trade Organization) disputes and eliminate retaliatory tariffs on specific US goods.
As part of this agreement, India will be eliminating additional duties on various items, including chickpeas (10 per cent), lentils (20 per cent), fresh or dried almonds (Rs 7 per kg), shelled almonds (Rs 20 per kg), walnuts (20 per cent), and fresh apples (20 per cent).
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The report also noted that in July, Minister of State for Commerce and Industry Anupriya Patel, in a written response to the Rajya Sabha said that the government had opted to eliminate retaliatory customs duties on the import of various items, including almonds (fresh or dried, in shell), walnuts, chickpeas, lentils, apples, medical diagnostic reagents, and boric acid. She clarified that the removal of retaliatory tariffs or reductions in import duties concerning the US did not result in any financial loss for India.
The United States is India's largest trading partner. In the fiscal year 2022-23, bilateral trade in goods reached $128.8 billion, an increase from $119.5 billion in 2021-22, the report said.
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