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Industry & Economy - Petrochemicals
Singapore pact changes okayed

Our Bureau

New Delhi, March 27 The domestic polymer and chemicals industry has got some relief against facing duty free competition from Singapore. The Cabinet gave its ex post-facto approval for modifying the agreed list of 555 items under the India-Singapore Comprehensive Economic Cooperation Agreement to shift 14 items from Track-I to Track-II list.

The 14 items include linear low density polyethylene, polypropylene and propylene copolymers. In late 2007, India approved tariff elimination/reduction on 555 items through amendment to the India-Singapore CECA. However, this was contested by the department of chemicals and petrochemicals, stating that the domestic industry was not in a position to face competition from duty free imports of certain polymers and chemicals from Singapore.

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