Nepal Apparel Sector Will Benefit From India'S Tariff Relief And Additional Duties.
India decided to end the additional tariffs on 162 export products in Nepal, including textiles and clothing products.
Nepal
Exporters offer some help and Nepal's clothing industry may benefit from this.
In 2006, India imposed 4% of the 331 Nepalese products.
Additional duties
。
Then in 2008, 169 products were ended.
tariff
。
However, the remaining 162 products are still taxed. Once the tax is stopped in India in March 2012, the additional tax on these products will be terminated.
Nepal's commerce minister, Mr. Purushottam Ojha, said all textile and clothing products in Nepal would be exemption from customs duties.
In recent years, Nepalese clothing manufacturers have begun to export to the India market.
Some enterprises are also producing textiles for India exporters; they produce semi-finished products, and the rest of the added value is completed in India, and the final products are exported to third countries.
Therefore, Nepal's clothing industry and contract manufacturers will benefit from the additional tariff of India's textile products.
He added that in the past, the Nepalese clothing industry employed a large number of people.
However, due to the decline in garment exports, many enterprises failed.
Now that India is exempt from additional tariffs, it will have a positive impact on Nepalese exports and increase Nepal's export to India.
In turn, this will promote the creation of employment opportunities in the clothing industry, and people can have better income.
The existing trade gap between India and Nepal will also shrink.
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