Indian safeguard duty slashes Nepal’s iron and steel exports by two-thirds

AI Summary

India’s safeguard duty on steel imports has drastically reduced Nepal’s iron and steel exports by two-thirds, resulting in a fall of Rs10.6 billion in export earnings over 11 months. Manufacturers are calling for high-level trade negotiations to resolve tariff and certification barriers.

Export earnings have fallen by Rs10.6 billion in 11 months due to safeguard duties and BIS certification hurdles. Manufacturers urge Kathmandu to begin high-level trade negotiations.