India Waives Duty Imposition On Jute Imports.

Bangladesh’s Commerce Ministry recently revealed that, the Indian government has waived its decision of subjecting jute and jute product imports from Bangladesh to a duty of 14 percent.

The Indian government on January 18 this year through an official circular imposed 14 percent duty on jute and jute product imports from Bangladesh, which included eight percent countervailing duty (CVD), four percent additional CVD and two percent other charges. But then, this decision of the Indian government was severely contested by the Bangladesh’s Commerce Ministry.

However, now as the Indian government has withdrawn its decision of duty imposition and this has eased the stalemate situation prevailing in Bangladesh over jute and jute product exports to India.

Source : fibre2fashion.com