India’s average tariff on agriculture is not starkly higher versus high-income countries from Switzerland to South Korea as protecting farmers’ interest is a globally accepted practice.
While, India’s average most-favoured nation (MFN) rate on agricultural goods stood at nearly 37 percent in 2024, it is sharply lower than South Korea at 57 percent.
Other high-income nations with high tariff rates on farm goods include Switzerland at 28.5 percent, Norway at 30 percent, Iceland at almost 20 percent, Thailand at 28.3 percent and Japan at 12.2 percent, according to data from World Trade Organization.
On many dairy and farm goods, India has lower rates compared to European Union, Japan and South Korea.
India’s average MFN rates on meat, dairy, fruits and cereals are 33 percent with many US agricultural exports at lower bands. The maximum rate is capped at 110 to 150 percent, according to data.
Europe’s average MFN rate is higher at 37.5 percent on dairy products, which can go as high as 205 percent and up to 261 percent on fruits and vegetables.
Japan average tariff of 61.3 percent on dairy products is again higher than India’s — which stands at 298 percent, and goes up to 258 percent on cereals, and 160 percent on meat and vegetables
Similarly, South Korea’s average tariff of 54 percent on agricultural goods can go as high as over 800 percent on vegetables and more than 300 percent on fruits, data shows.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.