• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

This is with reference to the editorial "Staying resolute" (Business Line, March 26).

The editorial has rightly complimented the Finance Ministry for not succumbing to Malaysian pressure to reduce the duty on crude (65 per cent) and refined palm oil (85 per cent).

India as a major importer of palm oil from Malaysia should insist on balancing the trade. Other than granting a railway contract, there has been little initiative on the part of Malaysia to promote two-way trade.

The Asian neighbour should rise above being a mere supplier of palm oil and show its long-term commitment to India by investing here in oil palm plantation and processing activity.

Indonesia — which supplies palm oil to India — is another country that requires imports large amounts of wheat, rice, and sugar.

So a barter or swap trade arrangement with Indonesia will benefit both countries.

For oil palm development, a stable policy environment with a long-term perspective is required. India should also seek to encourage those origins of supply that are willing to strike a balanced and expand two-way trade.

Jacob Sahayam

Karigiri (TN)

Article E-Mail :: Comment :: Syndication

Stories in this Section
Throwback to control era

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line