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India Imposes CVD On Garments from Nepal
By KTM Metro Reporter
March 25, 2011: news posted on the Fibre2fashion.com says that India has imposed a countervailing duty (CVD) on readymade garments (RMG) coming from Nepali unilaterally, following the budget for FY 2011 affecting the garment exports from Nepal to India.
Following the Indian government’s CVD, the Nepalese garments will be less competitive in the Indian markets; consequently, the Nepalese garment industry will suffer.
After the Indian government imposing duty on the Nepalese RMG, the Nepalese RMG exporters are discussing and gearing up to formulate a strategy to reduce their RMG cost, to offset the duty and maintain its stand in the Indian market.
During the last financial year, Nepal has exported around one billion rupees worth of RMG products to India. After major dislocation from the US market, the Indian market has given a new life to the Nepalese garment exporters.
