India Abolishes Duty on Nepalese Jute Products

IAS Prelims 2023

Indian government has abolished the Countervailing Duty (CVD) on the Nepalese jute products.

The abolition of CVD is likely to substantially enhance export of Nepalese jute products to India and thereby help the people engaged in the jute industry of Nepal.

Nepal government had requested India that its jute industries is already suffering from constraints of various kinds and imposition of CVD has halted the export of the Nepalese jute products to India.

The Government of India has considered the request of Government of Nepal favourably and a notification in this regard has been issued on 20th April, 2017.