Hike import duty on cashew, says CPI(M)

NEW DELHI, MARCH 12: 

The CPI(M) has demanded imposition of specific duty on imported cashew. CPI(M) MP K.N. Balagopal said cashew was being imported as cattle feed with a low duty. He said at least Rs 250 a kg should be imposed as import duty on cashew.

Balagopal said the cashew industry was hit by such imports as even kernels were being imported, citing cases of under-invoicing. “They are writing a very low price and, hence, a very low percentage of tax is being paid,” he said.

Imported cashew was being used in the domestic market, which makes for about 30 per cent of the total cashew sales, he said. Imported cashew was also being repackaged and exporting in the name of Indian cashew, he said, and added that India’s exports and domestic market were being impacted.

“In India, around 10 lakh people are working in this industry, but the Government is not giving any export promotion benefit to it,” he said.

Source: Business Line