India notifies wheat duty cut

The Indian government on Saturday issued a notification putting into effect its decision to reduce the customs duty on import of wheat by private trade to zero percent from five percent. Farm Minister Sharad Pawar had on Monday announced that wheat imports by private trade would be allowed at zero duty and would be notified soon.
The reduced duty will be with immediate effect and valid up to December 31, 2006, a finance ministry statement said. The federal cabinet had on August 31 decided that zero duty imports on wheat by private trade would be notified after the State Trading Corporation (STC) concluded its wheat import contracts for 1.67 million tonnes against a tender.