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Stock Market Tips, Govt may hike import duty on sugar to check any cheaper shipments from Pak
Pakistan is planning to give a subsidy on sugar exports that could make it cheaper for Indian markets, necessitating an increase in imports
The government might lift the import duty on sugar from the current 50 percent to check any cheaper shipments from Pakistan. However, no final decision has been taken yet, industry sources and officials said.
Pakistan is planning to give a subsidy on sugar exports that could make it cheaper for Indian markets, necessitating an increase in imports.
The Indian Sugar Mills Association (ISMA) in a statement released on Monday said that the Centre has assured them that it would consider hiking import duty on sugar.
“If Pakistan imports do become viable, or if any contracts start taking place for importing sugar into India from Pakistan, especially if the state of Sindh notifies any subsidy, the Government of India is willing to increase the import duty adequately to check any such imports,” ISMA said in a statement.
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