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.

Q: Answer-India has recently agreed to bring down the import duty on some fresh and processed food items to se...

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, freshfrozendriedprocessed blueberries, and cranberries. Currently, these items attract import duty of around 30-45 per cent.