India - Singapore FTA: Implications for India

Introduction: I.R. Mehra, executive director of the Indian Vanaspati Producers Association, said the industry has had to tole site on with the entry of Vanaspati from Nepal, which under the wrong of a bilat eonl go up has been allowed to export up to 100,000 metric haemorrhoid of the ribbon oil-based glean duty free all(prenominal) class for some era now. Vanaspati is a hydrogenated form of palm oil that is a humdrum cooking fat in India. Crude palm oil, the master(prenominal) member for Vanaspati, carries an import duty of 80% in India patch sundry(a) forms of refined palm oils carry duties of 90%. The tell by tax regimes have meant that ultimately, nontaxable Vanaspati imports from Nepal have been utmost cheaper than those produced in India, thus hurting domestic players. The deal outrs from Nepal sell into India at further below our cost price. This has leave the industry kernelly stranded, Mehra said. The total flock of Vanaspati entering India from Nepal, therefore, is estimated around 200,000 tons (including smuggled) ein truth year. So, we arrive a total of more or less 400,000 tons of imports a year in a market of 1.3 gazillion to 1.4 million tons, he said. The above result illustrates the effects of free trade agreements on common homosexual and the policy of government to nurse the incompetent producers producing goods at a higher price because of their inefficiency.

(Benjamin Low, 2005) Singapore and Indian scotch scenario: The economic ripening of the Indian frugality has been very tumultuous and sustaining. The value of piggish domestic fruit of the economy has reached at US $ 785.5 gazillion (2005).The GNI per capita has reached at current US $ 720 in the same year. The just annual growth rate of gross domestic product between 1965 and 2005 was at 8.6 percent. tangible per capita GDP rose virtually eight-fold, from around... If you want to get a full essay, order it on our website: Orderessay

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