The Hindu Business Line : `Govt may reduce import duties on luxury products'

New Delhi March 30 Duties on import of luxury goods may come down. The Government on Friday said it might consider reducing duties in a manner that does not hurt the domestic market.

``If the industry comes up with certain items on which duties can be brought down without hurting the local industry, we will look at it,'' Mr Kamal Nath, Union Minister for Commerce and Industry, said.

Speaking at the Hindustan Times Mint Luxury Conference, he said India has high tariffs on imports of some goods because it does not want cheap imports from countries like China to swamp the local market.

Mr Kamal Nath said India could look at the tariff model which was applicable to wines and spirits where high value products are subjected to lower duty.

On the duties on wines and spirits, he said, ``we do recognise that duties on wines is high. We are looking at lowering tariffs. We are in the advanced stages of negotiations and the issue will be addressed.''

The European Union has already complained against India to the World Trade Organisation on high tariffs. While expressing his willingness to cut duties, Mr Nath also said Europe must accept imports of Indian whisky.

The two-day conference will see a host of speakers including Mr Yves Carcelle, Chairman and CEO, Louis Vuitton, Ms Francoise Montenay, Président, Chanel SAS and Chairman, Comité Colbert, Mr Christophe Caillaud, CEO, Jean Paul Gaultier.

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