The effect of the government’s decision will be seen from this day

Customs Duties: After PM Modi’s visit to America, the citizens of the country are going to get relief on some items of daily use. Under the new agreement, India will remove customs duties on eight products including gram, pulses and apples imported from the US. Customs duties were imposed on these goods from India in 2019 when the US increased duties on certain steel and aluminum products. This information was given by the sources. During Prime Minister Modi’s US visit, the two countries agreed to end six World Trade Organization (WTO) disputes and remove retaliatory tariffs on US products.

Customs duty was imposed on 28 products

In 2018, citing national security, the US had decided to impose 25 percent import duty on steel products and 10 percent on some aluminum products. In response, in June 2019, India imposed import duties on 28 US products. The source said that after India’s notification of cancellation of additional duties, duties on these eight US products will revert to the existing Most Favored Nation (MFN) rate. Charges will expire in 90 days.

Customs duty has been removed from these items
Under the agreement, India will provide chickpeas (10%), pulses (20%), fresh or dry almonds (Rs 7 per kg), shelled almonds (Rs 20 per kg), walnuts (20%), fresh apples (20%). will do ), will remove additional charges from boric acid (20%) and dental reagents (20%). US lawmakers and industry have welcomed India’s announcement to lift the duties. The US is India’s largest trading partner. India is Washington’s second export market for apples.

What effect will there be?
The benefits of removal of customs duties of India and America will be given to the citizens of the country. After this initiative of the government, the import of these items will become cheaper than before. There is a possibility that the rate of these items will decrease in the near future. The benefits of which will be directly passed on to the countrymen in the retail market.

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