Sugar industry asks for lower duty on sugar in Sri Lanka, Bangladesh
The Dollar Business Bureau As India’s sugar output is estimated to be at record level in the 2018-19 marketing year, expected to result in a surplus, industry body Indian Sugar Mills Association (ISMA) on Thursday requested the Government to seek preferential import duty structure from Sri Lanka and Bangladesh. “India’s sugar production may exceed in 2018-19 marketing year than 251 lakh tonnes estimated for the current year. So we may have surplus sugar for exports in 2018-19,” said Abinash Verma, Director General, ISMA, while speaking at the industry body’s 83rd annual general meeting. Bangladesh and Sri Lanka, the two major sugar importers, levy high import duty at $150 per tonne and $100 per tonne on sugar, respectively. The two Asian neighbours procure around ...
Is there hope for SAARC? Experts say yes
Sisir Pradhan | The Dollar Business Once the most open and freely journeyed region, South Asia’s borders today are barriers to trade, says Prof. V. Balakista Reddy, Coordinator, M.K. Nambyar SAARC Law Centre Almost all the eight members of the South Asian Association for Regional Cooperation (SAARC) share a common heritage, history and geography. They also used to have in place a strong trade base centuries ago, but things have changed. Today, SAARC is perhaps the weakest block in the world both politically and economically. Constant disputes between India and Pakistan overshadow everything, including prosperity and growth of the region. Take a look at the figures. Intra-regional trade in SAARC, which stands at around $314 billion is much lower compared to ...
