India - Singapore FTA: Implications for India

Introduction: I.R. Mehra, executive director of the Indian Vanaspati Producers Association, said the industry has had to lot with the entry of Vanaspati from Nepal, which under the terms of a symmetrical mount has been allowed to export up to 100,000 metric oodles of the ornament oil-based harvest duty bare(a) each class for several(prenominal) era now. Vanaspati is a hydrogenated form of typewriter ribbon oil that is a commonplace cooking fat in India. Crude palm oil, the master(prenominal) ingredient for Vanaspati, carries an import duty of 80% in India billet various forms of refined palm oils carry duties of 90%. The attest apart tax regimes have meant that ultimately, duty-free Vanaspati imports from Nepal have been uttermost cheaper than those produced in India, thus hurting domestic players. The traders from Nepal sell into India at far below our cost hurt. This has left the industry kernelly stranded, Mehra said. The full(a) volume of Vanaspati enterin g India from Nepal, therefore, is estimated around 200,000 tons (including smuggled) every year. So, we get into a total of more or less 400,000 tons of imports a year in a market of 1.3 jillion to 1.4 million tons, he said. The above case illustrates the effects of free trade agreements on common man and the policy of judicature to protect the incompetent producers producing goods at a higher price because of their inefficiency.

(Benjamin Low, 2005) Singapore and Indian scotch scenario: The economic growth of the Indian economy has been very tumultuous and sustaining. The value of gross domestic product of the economy has reached at US $ 785.5 billio! n (2005).The GNI per capita has reached at current US $ 720 in the same year. The average one-year growth rate of gross domestic product betwixt 1965 and 2005 was at 8.6 percent. Real per capita GDP rose about eight-fold, from around... If you extremity to get a full essay, order it on our website: OrderCustomPaper.com

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