Proposed cut in import duties to be corrected : Nath

New Delhi, Mar 30 (UNI) Union Commerce and Industry Minister Kamal Nath today said India is negotiating with the European Union with regard to the proposed cut in the import duty imposed on wines and spirits.

''We recognise it is high. We are in talks, it is an advanced stage. I believe this situation will be corrected,'' Mr Nath said at a Luxury Goods Conference here.

Mr Nath claimed that given tariff clarification that does not hurt, India will continue to reduce tariff.

On the occasion, France's Trade Minister Christine Lagarde said, ''the direct cuts will propel industry and not hurt it.' India is likely to slash the import duties on wines and spirits following the United States and the European Union (EU) demands, who have approached the dispute settlement body at the World Trade Organisation (WTO) for reduction in the import duties.

UNI