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I was going through the INDIA-JAPAN FTA and saw a clause for Custom Import Duty Reduction,which is as follows:-
"Customs duties on originating goods classified under the tariff lines indicated with “B10” shall be eliminated in 11 equal annual instalments from the Base Rate to free; "
Pls tell me how the import duty be reduced. I am not able to understand this language.
Link to the article:-
http://www.mofa.go.jp/region/asia-paci/india/epa201102/pdfs/ijcepa_x01_e.pdf
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India - japan free trade agreement query