India’s imports of coking coal from Australia will be exempt from the 2.5 percent import duty under the Free Trade Agreement (FTA) ratified by the Australian parliament and expected to be implemented shortly, India’s commerce minister Piyush Goyal said in a statement on Wednesday, November 23.
Last week, the Indian government while withdrawing 15 percent export tax on steel imposed a 2.5 percent import duty on coking coal.
However, this levy will not be applicable in the case of inward shipments of coking coal from Australia.
Australia accounted for 67 percent of all coking coal imported into India during the January-September period this year, down from 81 percent in the corresponding period of the previous year.