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India ministers defer decision on power gear import duty
March 1, 2012 / 6:21 AM / 6 years ago

India ministers defer decision on power gear import duty

NEW DELHI, March 1 (Reuters) - India’s panel of ministers on economic affairs have deferred a decision on duties for imported power equipment, heavy industries minister Praful Patel said.

In February 2010, a high-ranking government body, had recommended imposition of a 10 percent import duty and 4 percent special additional duty on all imported power gears, mainly targeted at curbing imports from China.

At present, there is no duty on imported power gears for projects above 1 GW, while a 5 percent duty is applicable on imported power gears for projects below 1 GW. (Reporting by Nigam Prusty in NEW DELHI and Ketan Bondre in MUMBAI; Editing by Rajesh Pandathil)

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