EU MINISTERS REBUFF INDIAN BID FOR RELIEF FROM ANTIBIOTIC COUNTERVAILING DUTIES
January 1st, 2009 BY KEITH NUTHALL
EUROPEAN Union (EU) ministers have largely ignored an Indian government request for lowering EU countervailing duties on imports of certain broad spectrum antibiotics from India. This followed a reform of Indian subsidies, which the duties counteract. But ministers have decided to only lower duties for New Delhi's Ranbaxy Laboratories Ltd, (30.3% to 11.9%). The general rate remains 32%.
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EUROPEAN Union (EU) ministers have largely ignored an Indian government request for lowering EU countervailing duties on imports of certain broad spectrum antibiotics from India. This followed a reform of Indian subsidies, which the duties counteract. But ministers have decided to only lower duties for New Delhi's Ranbaxy Laboratories Ltd, (30.3% to 11.9%). The general rate remains 32%.
ENDS
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