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ASEAN FTA Hurdle In Bid To Rein In CR Imports To India
14 Views10 Feb 2023 11:40
India’s Free Trade Agreement (FTA) with ASEAN countries has come into sharp focus with the Indian Government raising the import duty on compound rubber (CR) from 10% to 25% in the Union Budget for fiscal 2023-2024. The FTA currently provides a preferential duty ranging from 0%-5% to compound rubber imported from ASEAN nations. However, the new import duty of 25% on CR does not automatically apply to ASEAN nations.
What is covered in the Full Insight:
- Introduction
- Background on FTA and CR Imports
- Impact of Increased Import Duty
- Challenges and Future Steps
- Industry Reactions and Recommendations
SUMMARY
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