India to allow duty free import from South Asia LDCs
India will allow tax free import of over 4,500 items from neighbouring countries from January 2008 to facilitate trade in the South Asian region.
By PTI |
NEW DELHI: India will allow tax free import of over 4,500 items from neighbouring Bangladesh, Nepal, Maldives and Bhutan from January 2008 and later from Afghanistan to facilitate trade in the South Asian region, Minister of State for Commerce Jairam Ramesh said on Wednesday.
"Under the South Asian Free Trade Agreement (SAFTA), 4536 items, excluding agriculture and textile ones, would be imported without duty from Bangladesh, Nepal, Maldives, Bhutan and Afghanistan from January next year," he said at a FICCI seminar here.
Once Afghanistan becomes a member of SAFTA by February next year, India would extend tax exemptions to that country as well. Afghanistan's economic engagement with India would receive a further boost when the protocol to make it the eighth member of SAFTA is finalised, he said.
India would also review 744 items in sensitive list of export, comprising mainly agriculture and textiles products, he said.
"We are currently working on a review of the negative list, particularly with regard to the five least developed countries in the South Asian region," said.
India and Afghanistan also have a Preferential Trade Agreement (PTA) in place under which 38 Afghan products receive preferential treatment in India against eight Indian items. LDCs
India will allow tax free import of over 4,500 items from neighbouring countries from January 2008 to facilitate trade in the South Asian region.
NEW DELHI: India will allow tax free import of over 4,500 items from neighbouring Bangladesh, Nepal, Maldives and Bhutan from January 2008 and later from Afghanistan to facilitate trade in the South Asian region, Minister of State for Commerce Jairam Ramesh said on Wednesday.
"Under the South Asian Free Trade Agreement (SAFTA), 4536 items, excluding agriculture and textile ones, would be imported without duty from Bangladesh, Nepal, Maldives, Bhutan and Afghanistan from January next year," he said at a FICCI seminar here.
Once Afghanistan becomes a member of SAFTA by February next year, India would extend tax exemptions to that country as well. Afghanistan's economic engagement with India would receive a further boost when the protocol to make it the eighth member of SAFTA is finalised, he said.
India would also review 744 items in sensitive list of export, comprising mainly agriculture and textiles products, he said.
"We are currently working on a review of the negative list, particularly with regard to the five least developed countries in the South Asian region," said.
India and Afghanistan also have a Preferential Trade Agreement (PTA) in place under which 38 Afghan products receive preferential treatment in India against eight Indian items.
"Under the South Asian Free Trade Agreement (SAFTA), 4536 items, excluding agriculture and textile ones, would be imported without duty from Bangladesh, Nepal, Maldives, Bhutan and Afghanistan from January next year," he said at a FICCI seminar here.
Once Afghanistan becomes a member of SAFTA by February next year, India would extend tax exemptions to that country as well. Afghanistan's economic engagement with India would receive a further boost when the protocol to make it the eighth member of SAFTA is finalised, he said.
India would also review 744 items in sensitive list of export, comprising mainly agriculture and textiles products, he said.
"We are currently working on a review of the negative list, particularly with regard to the five least developed countries in the South Asian region," said.
India and Afghanistan also have a Preferential Trade Agreement (PTA) in place under which 38 Afghan products receive preferential treatment in India against eight Indian items. LDCs
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India will allow tax free import of over 4,500 items from neighbouring countries from January 2008 to facilitate trade in the South Asian region.
NEW DELHI: India will allow tax free import of over 4,500 items from neighbouring Bangladesh, Nepal, Maldives and Bhutan from January 2008 and later from Afghanistan to facilitate trade in the South Asian region, Minister of State for Commerce Jairam Ramesh said on Wednesday.
"Under the South Asian Free Trade Agreement (SAFTA), 4536 items, excluding agriculture and textile ones, would be imported without duty from Bangladesh, Nepal, Maldives, Bhutan and Afghanistan from January next year," he said at a FICCI seminar here.
Once Afghanistan becomes a member of SAFTA by February next year, India would extend tax exemptions to that country as well. Afghanistan's economic engagement with India would receive a further boost when the protocol to make it the eighth member of SAFTA is finalised, he said.
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India would also review 744 items in sensitive list of export, comprising mainly agriculture and textiles products, he said.
"We are currently working on a review of the negative list, particularly with regard to the five least developed countries in the South Asian region," said.
ADVERTISEMENT
India and Afghanistan also have a Preferential Trade Agreement (PTA) in place under which 38 Afghan products receive preferential treatment in India against eight Indian items.
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