India Will Lower the Tariff on Import Shoes From Mercosur Countries

The Central Tax Bureau affiliated to the Ministry of Finance of India and EBEC make an announcement that India will lower the tariff on products imported from 450 countries of Mercosur, according to the preferential free trade agreement.

The Mercosur countries include Brazil, Argentina, Paraguay, Uruguay as well as Venezuela which is on the way to a formal member of Mercosur. The Mercosur will provide market admittance preferential tariff for more India products.

The tariff cuts 10 to 20 percent for most products, and the tariff cut scope even reaches 100 percent on some products. Products listed on the tariff cuts include 450 varieties, including cotton yarn, silk, leather product and shoes. This agreement will greatly promote the trade between India and Mercosur.