Norms on Korean gold imports may be changed before next CEPA meet

Revised CEPA deal signed this week lowered tariffs on Indian shrimps, popcorn, beer

India may fix the levels of value addition currently mandated for gold imports from South Korea. This may take place during the next round of talks on the Comprehensive Economic Partnership Agreement (CEPA), scheduled for September.

New Delhi is also hopeful of receiving duty cuts on sesame oil, and plans to push for reduced tariffs on several apparel products.

Restrictions on gold imported from South Korea had been in place since last year, when inbound gold from South Korea had spiked. While the spike has since subsided, the norms have remained in place leading to protests from industry.

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