Dry Fruits: PM Modi’s big relief to almond-walnut-apple lovers

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PM Modi America Visit : Prime Minister Narendra Modi has recently returned from his visit to America. During this journey, India has received gifts like semiconductors, jet engine technology and Tesla’s assurance of investment in India. Also America has benefited a lot. Now dry fruit lovers will also benefit greatly.

India has decided to remove customs duty on 8 goods imported from America. These include chickpeas, lentils, apples, walnuts and almonds. In 2019, India imposed customs duty on these goods coming from America. The reason for this was to increase US duty on products like steel and aluminum exported from India. The agency has given this information on the basis of sources.

When India took this decision, America was under the rule of President Donald Trump. Subsequently, the trade policy he adopted for the US removed India from the category of ‘favoured country’. However, America’s ‘trade war’ with China also started at the same time.

The solution came from PM Modi’s visit.
Modi went for a ‘state visit’ on the invitation of US President Joe Biden. The two countries then agreed to end six World Trade Organization (WTO) related disputes. Meanwhile, India has also agreed to remove the duty imposed on American products in retaliation.

In 2018, citing national security, the US decided to impose 25 percent import duty on steel products and 10 percent on aluminum products imported from India. was In response, India imposed import duties on 28 US products in June 2019. Now after India’s decision to remove this additional import duty, these 8 American products will be charged in the country only based on the prevailing Most Favored Country (MFN) rates.

Products will be available cheaper after 90 days

The government has decided to phase out these tariffs on American products over the next 90 days. As per the agreement reached during the US visit, India now has 10 per cent on American chickpeas, 20 per cent on pulses, Rs 7 per kg on fresh or dry almonds, Rs 20 per kg on shelled almonds, 20 per cent on walnuts, fresh apples above 20 per cent, boric acid. 20 percent on and 20 percent on diagnostic reagents will be removed.

America is India’s largest trading partner. Merchandise trade between the two countries rose to $128.8 billion last fiscal year. It was $119.5 billion in FY 2021-22. India is Washington’s second export market for apples.