New Delhi: India has begun looking at several products where taxes on input items are higher compared to the finished goods as part of a comprehensive review of its trade pact with the 10-member Asean to correct several anomalies that have undermined domestic manufacturing.
Imbalances in import duties, rules of origin, and non-tariff barriers will come in for a closer look, people familiar with the details told ET. The commerce and industry ministry has asked the industry for inputs to identify products where an inverted duty structure is causing a disadvantage to local manufacturers.
Source Name : Economic Times