Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Govt asks industry to suggest appropriate tariff rates for APEC talks.


Date: 01-06-2016
Subject: Govt asks industry to suggest appropriate tariff rates for APEC talks
NEW DELHI: Asking industry to suggest an appropriate tariff structrure which the government can pursue at Asia-Pacific Economic Cooperation negotiations, a senior Commerce Ministry official today said neither a very high, nor zero duties, are good for the economy .

Arvind Mehta, Additional Secretary in the Ministry of Commerce and Industry, said India understands that high tariffs are not favorable but at the same time zero tariffs would also hurt the economy.

He urged the industry to "recommend appropriate tariff rates that the government could propose at the Asia-Pacific Economic Cooperation (APEC) membership negotiations".

APEC members include Australia, Canada, China and Japan.

Mehta was speaking at a stakeholder' consultation on 'India and APEC: Issues and Options' organised by industry body Ficci and the Centre for WTO Studies.

Quoting the additional secretary, the chamber said in a statement that the APEC member countries were creating a narrative that India should take certain policy measures to signal its commitment to APEC's vision and improve its chances for APEC accession.

"The narrative may require India to make binding concessions for securing APEC membership. Therefore, it was necessary that industry voiced its opinion with respect to their expectations and apprehensions from India's membership at APEC," he said.

He also said that India needs to consider the takeaways from the partnership as well as the losses that it would incur to become a member and added that India may have to propose a Voluntary Individual Action Plan to project its aspirations to member countries to eliminate their concerns.

India has indicated its willingness to be a member of APEC earlier as well and was re-engaging in the issue but the government needed the industry's views on how competitiveness, trade facilitation, ease of doing business would be further enhanced to meet the APEC standards, he added.

Abhijit Das, Head of the Centre for WTO Studies, said India should consider joining APEC only if it is confident of undertaking reforms in all areas of activities of APEC.

Speaking at the event, Ficci Secretary General A Didar Singh said India has shown an inclination towards joining APEC and this could greatly benefit the industry.

The voluntary and non-binding APEC partnership would allow India to forge free trade agreements and strengthen its supply chain, he said.

Source : economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025

Date: 30-04-2025
Notification No. 27/2025-Customs
Seeks to amend Second Schedule to the Customs Tariff Act, to align it with changes made in the First Schedule to the Customs Tariff Act vide Finance Act, 2025.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001