Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Indian market for Aussie wool

India is expected to become Australia’s third largest wool market after China and Italy following steps in India to reduce tariffs.

The Indian Government has announced significant reductions in wool import duties, which saw the base rate on wool top and wool yarn cut by 15 per cent and 20 per cent respectively. These reductions open these wool products to the domestic domestic Indian market for the first time.

Following recent talks with Australia's Agriculture, Fisheries and Forestry department (AFFA) India’s import barriers to wool export countries such as Australia are expected to drop further.

"The continued reduction in tariffs will make India a key developing market for the Australian wool industry," said David Navin, AFFA’s Director, International Wool Section.

"The Department has kept a keen eye on Indian developments. Our activities have resulted in gaining support of the Indian industry for reductions in import barriers and a greater understanding of the issues they face.

"Further duty reductions remain a high priority as Indian duties on wool remain well above world standards," he said.

Further details:
David Navin, Industries Development Group (00612) 6272 568

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tornado Aftermath: More Storms Forecast For New Plymouth

Up to 30 homes were damaged Monday night when a tornado roared through a New Plymouth suburb last night , cutting power lines, tearing off roofs, and toppling trees. More>>

ALSO:

Government Investment Rejig: Sustainable Food & Fibre Futures Launched

Growing New Zealand’s food and fibre sectors sustainably and supporting a thriving economy are the hallmarks of a new investment programme announced today by Agriculture Minister Damien O’Connor. More>>

Dump Levy Options: Waste Work Programme Announced

Associate Environment Minister Eugenie Sage has announced a programme of work to take action on New Zealand’s long-neglected waste problems. More>>

ALSO:

Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>

ALSO:

Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO: