Singapore has only 6 tariff lines which are not at zero duty but under the FTA it has bound all lines at zero duty. India’s tariff categories include the early harvest programme (immediate elimination); phased elimination of duty; phased reduction of duty and products excluded from duty cuts (negative lines).
A) Singapore’s Offer : Singapore has zero customs tariff on all tariff lines except for six products. Singapore has agreed to bind all their tariff lines at zero customs duty for India. (
B) India’s Offer : The key sectors in which India offered tariff concessions include electrical and electronics, instrumentation, pharmaceuticals and plastics. India’s offer has been categorized into four lists, Early Harvest, Phased Elimination, Phased Reduction and the Negative List. Negative List products, whether originating or otherwise, will enter into India from Singapore on the applied MFN duties. An additional list of tariff concessions was released on 15 January, 2008. Under the agreement, goods such as base metal, machinery and mechanical appliances, chemicals, plastic and rubber articles and textiles and textile articles will enjoy reduced tariffs.