Changes in India-Singapore CECA; impact on 30 items
The Government approved changes to the India-Singapore Comprehensive Economic Cooperation Agreement deleting 16 items from the approved list that qualifies for duty elimination.
By PTI |
NEW DELHI: The Government on Thursday approved changes to the India-Singapore Comprehensive Economic Cooperation Agreement deleting 16 items from the approved list that qualifies for duty elimination.
Under the changes in the Comprehensive Economic Cooperation Agreement (CECA), given ex-post-facto approval by the Union Cabinet, 14 items have been shifted to the category of sensitive track which protects the domestic producers against tariff-free imports.
The items, which may now be subjected to import duty include discs for laser reading system, still image video camera and magnetic tapes, an official spokesperson said here.
The items moved to the sensitive list mostly relate to the chemical and petro-chemical sector and include linear low density polyethylene, linear medium density polyethylene and nylon moulding powder.
The India-Singapore CECA has already come into operation with a large number of items being trade without duty on either side. The agreement also lays a tariff reduction/elimination road-map for several other goods.
Under the changes in the Comprehensive Economic Cooperation Agreement (CECA), given ex-post-facto approval by the Union Cabinet, 14 items have been shifted to the category of sensitive track which protects the domestic producers against tariff-free imports.
The items, which may now be subjected to import duty include discs for laser reading system, still image video camera and magnetic tapes, an official spokesperson said here.
The items moved to the sensitive list mostly relate to the chemical and petro-chemical sector and include linear low density polyethylene, linear medium density polyethylene and nylon moulding powder.
The India-Singapore CECA has already come into operation with a large number of items being trade without duty on either side. The agreement also lays a tariff reduction/elimination road-map for several other goods.
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