India - Singapore FTA: Implications for India

Introduction: I.R. Mehra, executive director of the Indian Vanaspati Producers Association, said the exertion has had to lot with the entry of Vanaspati from Nepal, which under the terms of a bilaterally symmetric mount has been allowed to export up to 100,000 metric wads of the deal oil-based harvest duty empty each class for well-nigh era now. Vanaspati is a hydrogenated form of palm tree oil that is a commonplace cooking fat in India. Crude palm oil, the master(prenominal) ingredient for Vanaspati, carries an import duty of 80% in India pip various forms of refined palm oils carry duties of 90%. The signalise apart tax regimes have meant that ultimately, duty-free Vanaspati imports from Nepal have been cessation cheaper than those produced in India, thus hurting domestic players. The traders from Nepal sell into India at far below our cost footing. This has left the industry kernelly stranded, Mehra said. The issue forth volume of Vanaspati entering India from Nepal, therefore, is estimated around 200,000 tons (including smuggled) every year. So, we arrive a total of more or less 400,000 tons of imports a year in a market of 1.3 cardinal to 1.4 million tons, he said. The above case illustrates the effects of free trade agreements on common man and the policy of brass to protect the incompetent producers producing goods at a higher price because of their inefficiency.

(Benjamin Low, 2005) Singapore and Indian scotch scenario: The economic growth of the Indian economy has been very tumultuous and sustaining. The value of gross domestic product of the economy has reached at US $ 785.5 billion (2005).The GNI per capita has reached at cur rent US $ 720 in the same year. The average ! one-year growth rate of gross domestic product surrounded by 1965 and 2005 was at 8.6 percent. Real per capita GDP rose about eight-fold, from around... If you emergency to get a full essay, order it on our website: OrderEssay.net

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