ANNOUNCEMENT 20 Dec 2013In December 2013, the government of India announced a change in import duties.
NUMBER OF INTERVENTIONS
On 20 December 2013, the Indian Ministry of Finance published the Notification 51/2013, thereby increasing the basic customs duty on imports of Natural rubber (HS Code 4001.21 4001.22, 4001.29).
The basic customs duty has been increased form 20% or INR 20/kg whichever is lower, to 20% or INR 30/kg whichever is lower.
The government press release justifies this increase on the grounds that the increase in imports of natural rubber has lead to a fall in prices and such a move is necessary to protect the domestic rubber growers.