Question
India has recently agreed to bring down the import duty
on some fresh and processed food items to settle the dispute between New Delhi & Washington at WTO.Which of the following statements is true with respect to the given information- I.The import duty is going to be cut down to 5-10 percent on some fresh and processed food items. II.These fresh and processed food items include frozen turkey, frozen duck, fresh/frozen/dried/processed blueberries, and cranberries. III.Currently, these items attract import duty of around 40-45 per cent.Solution
India has agreed to bring down the import duty to 5-10 per cent on some fresh and processed food items as part of a larger dispute settlement between New Delhi and Washington at the World Trade Organization (WTO). The duties will be reduced on import of frozen turkey, frozen duck, fresh/frozen/dried/processed blueberries, and cranberries. Currently, these items attract import duty of around 30-45 per cent.
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