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Minister of State for Commerce and Industry Jyotiraditya M. Scindia has mentioned that Indian government will not cut down the tariff on rubber and cashew under the ASEAN Free Trade Agreement, which is slated to be effective from Jan 2010.
"There is going to be no tariff relaxation whatsoever as far as rubber and cashew are concerned," said Scindia said on the margins of the Bharat Chamber of Commerce seminar.
But he said that the coffee and tea tariff will be reduced to 45%, which is now 100%, where as that of palm oil will stand at 55% instead of the existing 80% over a period of 10 years.
"We have a very directed trade pact safeguarding the interest of small farmers," Scindia said.
