An umbrella body of the country’s dry fruit traders, The Nuts and Dry Fruits Council of India (NDFC) urged the government to rationalize the import duty on walnuts on a per kg basis, reduce GST to 5 per cent and introduce a production-linked incentive (PLI) scheme for the sector in its pre-budget proposals.
India’s dry fruit market is rising at an annual growth rate (CAGR) of 18 per cent and is projected to reach USD 12 billion by 2029, as per the industry body.
90% of India’s Walnuts Produce in Kashmir
In Kashmir more than 90% of the total walnut production in the country takes place. NDFC President Gunjan V mentioned the need to safeguard the local farmers even after the existing 100% import duty.
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Announcing the second edition of the Mewa India Trade Show to be conducted in Mumbai from February 11-14, Jain cited that “We have sought per-kilo import duty on walnuts instead of percentage-based taxation.”
The GST council advised setting the import duty on walnuts at Rs 150 per kg, aligning it with the rate of Rs 35 per kg for almonds.
For Walnut Imports India Relies on Chile, the USA
Currently, India is very much laid on the imports of walnuts from Chile and USA to meet the domestic demand.
Also, the council has urged to surge the subsidies to expand the production areas under walnuts and the other dry fruits to lessen the import dependence.
NDFC asked for a reduction of Goods and Services Tax (GST) on nuts to 5% from 18% marking their health benefits and making them cheaper. Also, the council has asked to implement a production-linked scheme objecting to small to medium-scale operators.
