Related Keywords: affected six jute industries of Biratnagar, against the Nepal-India trade agreement, export has come down to zero, India, Indian govt, jute traders. both countries should be treated equally, major market for Nepali Jute. India imposed a huge Countervailing Duty, Nepali jute mills association, on jute, working to lift CVD
India is the major market for Nepali Jute. After India imposed a huge Countervailing Duty (CVD) on jute, it has affected six jute industries of Biratnagar. However, imposition of CVD on jute products is against the Nepal-India trade agreement, said jute traders. As per the Nepal-India trade agreement, jute industries of both the countries should be treated equally.
The Indian government started imposing a 12 percent tax on jute imported from Sri Lanka, the Maldives and Nepal from December 15. Before December 15, India was charged only 1 percent tax on Nepali jute.
