IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 11 Jul 2016 | Removal date: open ended
Still in force

Trade finance

 On 11 July 2016, the Export Import Bank of India (EXIM Bank), on behalf of the Government of India, extended two Lines of Credit for USD 29.95 million and USD 15 million to the Government of Kenya financing the upgrade of Rift Valley Textile Factory (RIVATEX East Africa Ltd) and for development of various small and medium enterprises.

As is seen from Letters of Credit extended by the EXIM bank in the past, the agreement will require that the recipient country source at least 75% of the contract price for goods and services associated with the project from India.

According to UN Comtrade, bilateral trade on the stated tariff line did no exceed USD 1 million for a single trading partner in 2015, the year prior to the imposition of this measure. Hence, no countries are listed as affected trading partners.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

446 Machinery for textile, apparel & leather production; parts
8445 Machines for preparing textile fibres; spinning, doubling or twisting machines and other machinery for producing textile yarns; textile reeling or winding (including weftwinding) machines and machines for preparing textile yarns for use on the machines o
844511 Carding machines
844512 Combing machines
844513 Drawing or roving machines
844519 Other
844520 Textile spinning machines
844530 Textile doubling or twisting machines
844540 Textile winding (including weftwinding) or reeling machines
844590 Other

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