India-US trade deal: Why Indian importers are delaying customs clearance of American dry fruit; ‘opting to pay penalty because…'
India-US trade deal talks impact: Even as India and the US look to finalise a trade deal ahead of US President Donald Trump's tariff deadline, the possibility of an agreement has led to delays in clearance for American dry fruits.
According to an ET report, in anticipation of a drastic cut in import duties, importers of dry fruits in India are delaying customs clearances. Dry fruit importers are delaying customs clearance of walnuts, almonds and other nuts from the US due to ambiguity surrounding the proposed India-US trade agreement.
Why Are
US Dry Fruits
Facing Delayed Customs Clearance?
India levies a 100% duty on US walnuts, both shelled and unshelled, alongside specific duties of ₹35 per kilogram on almonds in shell and ₹100/kg on almond kernels.
This taxation structure is frequently spoken of by Trump to substantiate his claim that India has a high tariff regime.
Indian importers of dry fruit expect a significant reduction of approximately 50% in import duties as part of the India-US trade deal.
Industry insiders told the financial daily that importers are looking to prevent potential financial losses that could occur if duty rates decrease after they have cleared goods at current tariffs. However, this cautious approach might lead to further supply chain disruptions.
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'Very fast pace….': India-US trade deal talks pick momentum ahead of Trump's deadline; Piyush Goyal shares important update
"Two commodities that are likely to see duty reduction in the proposed US-India trade deal are walnuts and almonds," said Ravindra Mehta, founding member at Nuts and Dry Fruits Council of India, or NDFC(I) according to the report.
"Many importers are postponing filing the bill of entry by a few days and opting to pay the penalty for delayed clearance, which is much smaller than the losses they may face in case the duties are reduced," he said.
The dry fruit market is already experiencing supply constraints due to the suspension of Afghan imports, following the closure of the Wagah border after Operation Sindoor strikes targeting terror facilities in Pakistan and Pakistan-occupied Kashmir.
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