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03/05/2019 04:03pm

India again extends deadline till May 16 to impose retaliatory import duties on 29 US products

image India again extends deadline till May 16 to impose retaliatory import duties on 29 US products

New Delhi, May 3 (KNN) The government of India has once again extended its deadline to impose retaliatory import duties on as many as 29 US products, including almond, walnut and pulses, till May 16.

According to the Finance Ministry notification, implementation of increased customs duty on specified imports originating in the US has been postponed from May 2 to May 16 this year.

The extension has been made several times since June 2018, when India decided to impose these duties in retaliation to a move by the US to impose high customs duties on certain steel and aluminium products.

This extension comes in the backdrop of the US decision to withdraw export incentives being provided to them to Indian exporters under Generalised System of Preferences (GSP) program, which is expected to impact India's exports to the US worth USD 5.6 billion under this scheme.

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