India has agreed to provide tariff concessions on 3,142 products to Asia Pacific Trade Agreement (APTA) members, including Bangladesh and Sri lanka, from July 1, the commerce ministry said on Monday.
However, these duty concessions will be more for least developed countries (lDCs) and less for developing nations.
APTA is an initiative under the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) for trade expansion through exchange of tariff concessions among developing country members of the Asia Pacific Region. It is in place since 1975.