Infrastructure

India tops import duty on Covid goods | India News

Read more at timesofindia.indiatimes.com

CHENNAI: India levies highest import duty in the world on all Covid-19 goods, including test kits, swab and viral transport medium set, sterilisation products, disinfectants, protective gears, infrared thermometers and inputs for vaccine production which is making both the Covid-19 treatment and vaccine costlier.
A study by researchers from Indira Gandhi Institute of Development Research in Mumbai shows that the import duty on all Covid-related goods is 15.2% which is twice compared to China and seven times more compared to the US and 60% more compared to low income countries such as Afghanistan and Bangladesh. The tariff on Covid test kits, inputs for vaccine production, disinfectants and protective garments are also significantly higher than other countries and for some products the import duty is higher by several folds.
The researchers who compared the tariff rates based on data provided by United Nations Conference on Trade and Development and Organisation for Economic Cooperation and Development) published a paper on Ideas for India (I4I) economics and policy portal.
India’s imports of essential and life-saving products such as infrared thermometers (670%), protective garments (142%), ventilators (117%), flowmeter and thorpe tube for oxygen (72%), gas cylinders for oxygen (70%), and test kits (66%), recorded the fastest growth during April 2020-February 2021 compared to the same period last year.
In April 2021, the government waived off the basic customs duty on import of oxygen, Covid vaccines, and oxygen-related equipment. However, tariffs are still being levied for a range of products. The waiver is only for three months.

Read more at timesofindia.indiatimes.com

Show More

Related Articles

Back to top button