Ministry of Commerce and Supplies wrote to its Indian counterpart asking it not to charge five per cent countervailing duty on copper imports from Nepal.
The ministry wrote to its Indian counterpart based on the complaint from exporters that India has increased countervailing duty to five per cent from one per cent, said secretary Lal Mani Joshi. "The ministry has sent the letter through Ministry of Foreign Affairs."
Similarly, the ministry has also asked the Nepali Embassy in Delhi to discuss the issue with Indian government, he said, adding that the export of copper could reduce, if India denies scaling back countervailing duty in the previous one per cent.
Copper was recorded as the ninth exportable item to India during the last fiscal year, according to the data of Trade and Export Promotion Centre (TEPC) that had recorded the export of copper worth Rs 1.67 billion for the fiscal year 2010-11.
Copper wire is the eighth largest export to India in the first seven months of the current fiscal year too, according to the central bank data.
Nepal has exported Rs 699.9 million worth copper wire rod by the end of seven months till mid-February in the current fiscal year 2011-12, according to the central bank data that has revealed that the exports has increased by 384.4 per cent from a fiscal year ago's Rs 144.5 million. Similarly, in the first seven months of the fiscal year 2009-10, Nepal had exported Rs 544.7 million worth copper wire rod to India.
Zink sheet tops the list of major commodities exported to India with Rs 2.85 billion followed by textiles including PP fabric worth Rs 2.63 billion, jute goods worth Rs 2.36 billion, thread worth Rs 1.68 billion, cardamom worth Rs 1.54 billion, GI Pipe worth Rs 1.01 billion, shoes and sandles worth Rs 849.7 million and copper wire rod worth Rs 699.9 million, according to the central bank data.
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