Govt Notifies India-Singapore Trade Agreement (Safeguard Measures) Rules, 2009
The Government has notified the India-Singapore Trade Agreement (Safeguard Measures) Rules, 2009.
The DG (Safeguard) will
(i) investigate the existence of serious injury or threat of serious injury to the domestic industry as a consequence of increased import of the originating goods in absolute terms, on account of reduction or elimination of a customs duty in terms of the Trade Agreement;
(ii) identify the article liable for safeguard measure;
(iii) submit his findings, provisional or otherwise, to the Central Government as to the serious injury or threat of serious injury to domestic industry consequent upon increased import of the goods due to preferential treatment under the Trade Agreement;
(iv) make recommendation for either, -
(a) suspending further reduction of any rate of customs duty on the goods provided for under the Trade Agreement, or,
(b) increasing the rate of customs duty on the goods to a level not to exceed the lesser of the Most Favoured Nation (MFN) applied rate of customs duty on the article in effect at the time the measure is taken, and, the Most Favoured Nation (MFN) applied rate of customs duty on the article in effect on the day immediately preceding the date of the start of the period of investigation, or,
(c) in a case of customs duty being applied to the goods on seasonal basis, increasing the rate of customs duty to a level not to exceed the lesser of the Most Favoured Nation (MFN) applied rate of customs duty that was in effect on the goods for the corresponding season immediately preceding the date of the start of the period of investigation:
(v) review the need for continuance of safeguard measure.
Notification NO. , Dated: May 12, 2009