C&T sector to prosper from Indo-South Korea trade deal

The personal care care product sector should prosper from a new India and South Korea trade deal. It reduces import duties on exports from both countries of cosmetics, scents, soaps and chemical ingredients.

Assuming it is ratified, South Korea has promised to phase out duties over five years on Indian exports of most cosmetics, shampoos, hair creams, perfumes and toilet waters; erasing them upon ratification for eye make-up, lipstick, hair lacquers and rinses.

India has promised to phase out over nine years import duties on South Korean exports of medicated toilet and shaving soaps, among other benefits for exporters from both countries.