To safeguard dairy producers, India on Monday raised import duty on ghee, butter and butter oil, by 10 per cent, to 40 per cent. The decision was taken after milk producers from across the country sought duty protection following a steep decline in the global prices of these dairy products.
Revenue Secretary Hasmukh Adhia, addressing a press conference, assured that Government would take more such measures protect interest of domestic manufacturers, in wake of the glut in the global commodity markets.
“We have taken a decision that starting from today, for a period of six months, we will be increasing the import duty on ghee, butter and butter oil from the present rate of 30 per cent to 40 per cent….this will continue till March 2016,” Dr. Adhia said.
He also said that while it was not for Government to take suo motu action, the industry should effectively use the mechanisms of safeguards and anti-dumping.
