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Duty Slashed on Over 3,000 Chinese, Asia-Pacific Imports
July 04, 2018
To strengthen the bilateral trade with China and other nations from the Asia Pacific, the central government has reduced the import duty on as many as 3,142 products. This comes in days after China slashed import duty on over 8,500 items.
The new rates with regard to the Asia Pacific Trade Agreement (APTA) under which both nations made a commitment for trade liberalization are in effect from July 1.
It was back in 1975 when India signed APTA with the countries in the Asia Pacific. However, few moves were taken in support of the same until this major one now.
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