March 1, 2019 – -India’s exports to the US in 2017-18 stood at USD 47.9 billion, while imports were USD 26.7 billion. The trade balance is in favour of India.
The Narendra Modi-led government on Tuesday extended the deadline to impose retaliatory customs duties on 29 US products, including almond, walnut and pulses, till April 1.
As discussions are going on between India and the US for a proposed trade package, the commerce ministry had asked its finance counterpart to again defer the implementation of a notification to impose high duties on US products.
A notification said that implementation of increased customs duty on specified imports originating in USA has been postponed from March 2, 2019 to April 1, 2019.
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