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


Budget Policy Statement: 'Wellbeing Of NZers At The Heart Of Budget Priorities'

“We want a wellbeing focus to drive the decisions we make about Government policies and Budget initiatives. This means looking beyond traditional measures - such as GDP - to a wider set of indicators of success,” Grant Robertson said. More>>


Short Of 2017 Record: Insurers Pay $226m Over Extreme Weather

Insurers have spent more than $226 million this year helping customers recover from extreme weather, according to data from the Insurance Council of NZ (ICNZ). More>>

Environment Commissioner: Transparent Overseer Needed To Regulate Water Quality

Overseer was originally developed as a farm management tool to calculate nutrient loss but is increasingly being used by councils in regulation... “Confidence in Overseer can only be improved by opening up its workings to greater scrutiny.” More>>


Deal Now Reached: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>