View: India’s duty structure must be turned upside down for global competitiveness

Usually, countries keep import duty low on Key Industrial Raw Materials (KRMs) and high on Value Added Products (VAPs). But in India, KRMs attract higher import duty than corresponding VAPs. This increases the cost of production and make exports uncompetitive. The industry also becomes vulnerable to imports due to low import duty on VAPs.

from Economy-News-Economic Times https://ift.tt/2owE6uy