No tariff cut for rubber, cashew under ASEAN trade pact

Kolkata, Nov 4 : The government will not reduce tariff on rubber and cashew under the ASEAN (Association of South East Asian Nations) Free Trade Agreement that will become effective from January, said Minister of State for Commerce and Industry Jyotiraditya M. Scindia here Wednesday.

"There is going to be no tariff relaxation whatsoever as far as rubber and cashew are concerned," Scindia said on the sidelines of a seminar organised by the Bharat Chamber of Commerce.

However, tariff for tea and coffee would be reduced from 100 percent to 45 percent and that on refined palm oil from 80 percent to 55 percent over 10 years, he said.

"We have a very directed trade pact safeguarding the interest of small farmers," Scindia said.