Big step by India before the start of G20 Summit, additional duty removed on these goods coming from US

There will be a bilateral meeting between Prime Minister Narendra Modi and Biden on Friday.

In June this year, the Prime Minister made a state visit to the US. During this visit both the countries decided to end six WTO (World Trade Organization) disputes and remove tariffs on some US products.

In this agreement, India will remove the additional duty of 10 percent per gram, 20 percent on pulses, Rs 7 per kg on fresh or dried almonds, Rs 20 per kg on shelled almonds, and 20 percent on walnuts. Apart from this, the 20 percent duty on fresh apples was removed.

Minister of State for Commerce and Industry Anupriya Patel gave a written reply in the Rajya Sabha in July. In this written reply it was said that the government has decided to remove customs duty on import of almonds (fresh or dried, shelled), walnuts, chickpeas, and pulses. Apart from this, duty has been removed on apples, Medical Diagnostic Reagents, and Boric Acid.

With this, he had said that there was no loss to India due to the removal of counter-tariffs with the US or reduction in import duty.

America is the largest trading partner of India. Bilateral Goods Trade to increase to US$ 128.8 billion in the year 2022-23 as against US$ 119.5 billion in 2021-22.