India May Raise Import Tax On Wheat To 25 Per Cent

15/10/2015 12:56 PM IST | Updated 15/07/2016 8:25 AM IST
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India, Indian Sub-Continent, Asia

NEW DELHI -- India is considering raising import tax on wheat to 25 per cent from 10 per cent currently, to curb cheaper imports from Australia and France, three government sources told Reuters on Thursday.

In August, India, the world's second-biggest wheat producer, imposed an import duty of 10 per cent on wheat until March 31 next year, reinstating tariffs after a gap of eight years following big overseas purchases in recent months.

Earlier this year Indian flour millers and global trading companies sealed deals to import 5,00,000 tonnes of premium Australian wheat since March, the biggest such purchases in more than a decade despite surplus stocks at home.

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