DAIKIN

Government Considers Fresh Import Curbs Amid Global Trade War

The government is considering a second set of duty hikes on metals and minerals to reduce the risk of dumping from China and curb the widening trade deficit.

These will include certain grade of iron ores, copper ore, aluminum scrap and zinc, the report said, adding that certain electronic items of which China is a major manufacturer are also considered.

India has raised its import duties 5 times this year with the latest hike imposed on September 26 in which the government raised duties on 19 items which included consumer electronics, diamond jewellery and jet fuel.

Another reason for the curb of import duties is to safeguard the country from the ongoing global trade war between the United States and China, “With the US imposing curbs, Chinese goods meant for the US are likely to flood the Indian markets. Those will especially be electronic items meant for holiday or Christmas season in the US”. – CNBC TV18

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