Nepal lost Rs10 billion in India’s import squeeze. New Delhi seeks investigation before easing curbs
Summary
Nepal has asked India to remove obstacles to the export of jute and steel products after safeguard duties and other import restrictions sharply cut earnings. The two countries also discussed trade treaty review, customs cooperation, transit access and market access for agricultural goods.
Key Points
- Nepal says India’s safeguard duties on steel and other restrictions have cut export earnings by more than Rs10 billion and hurt production and jobs.
- The issue was discussed in New Delhi in a bilateral trade and transit meeting led by officials from Nepal’s Ministry of Industry, Commerce and Supplies and India’s Department of Commerce.
- India said trade-remedy measures follow statutory investigative processes and asked Nepal to provide more information for review by the Directorate General of Trade Remedies.
- Both sides discussed trade treaty review, customs cooperation, transit access, port congestion, and market access for agricultural and other products.
