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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.

A Only I Correct Answer Incorrect Answer
B Only I & II Correct Answer Incorrect Answer
C Only II Correct Answer Incorrect Answer
D Only II & III Correct Answer Incorrect Answer
E All of these Correct Answer Incorrect Answer

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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