The Customs duties of India are “very” often misconstrued to be high on most items but in reality, they are low, Commerce and Industry Minister Piyush Goyal has said. He said that the duties on technological items that are helping the Indian economy grow are very low. Actual applied rates of tariffs are lower than the agreed bound rates at WTO (World Trade Organization), Goyal told reporters on Tuesday after the 1st India-EU Trade & Technology Council (TTC) meeting in Brussels, Belgium. “India’s tariffs are very often misconstrued to be very high on most items, raw materials, intermediates but in reality the duties are very low,” he said. “The Minister informed that mutual recognition of degrees/courses would enable joint skill development on both sides,” he said.

Source: The Telegraph May 21, 2023 07:54 UTC