Dry fruits body NDFC seeks import duty rationalisation, lower GST in Budget
Nuts and Dry Fruits Council of India (NDFC) on Wednesday urged the government to rationalise walnut import duty on a per-kilogram basis, reduce GST to 5 per cent, and introduce a production-linked incentive scheme for the sector in its pre-budget proposals. India's dry fruits market is projected to hit USD 12 billion by 2029, growing at 18 per cent CAGR, according to the industry body.
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With Kashmir producing over 90 per cent of domestic walnuts, NDFC President Gunjan V Jain emphasised the need for protecting local farmers despite the existing 100 per cent import tariff.
«We have sought per-kilo import duty on walnuts instead of percentage-based taxation,» Jain said while announcing MEWA India trade show's second edition, scheduled for February 11-14 in Mumbai.
The council recommended setting walnut import duty at Rs 150 per kg, similar to almonds' Rs 35 per kg rate.
Currently, India relies heavily on walnut imports from Chile and the USA to meet domestic demand.
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