What Is a Tariff?

Simply put, a tariff is a tax on imported goods.  As a result, tariffs are different from regular taxes, since taxes apply to all units of a good equally regardless of their place of origin.  Not surprisingly, the purpose of a tariff is usually to protect domestic producers from foreign competition.  Therefore, it's important to both understand the market impact of a tariff and also the welfare implications for consumers, producers, and society overall.

India - Tariff rate:-

Tariff rate in India was 10.22 as of 2009. Its highest value over the past 19 years was 82.96 in 1990, while its lowest value was 8.55 in 2008.

Definition:- Simple mean applied tariff is the unweighted average of effectively applied rates for all products subject to tariffs calculated for all traded goods. Data are classified using the Harmonized System of trade at the six- or eight-digit level. Tariff line data were matched to Standard International Trade Classification (SITC) revision 3 codes to define commodity groups. Effectively applied tariff rates at the six- and eight-digit product level are averaged for products in each commodity group. When the effectively applied rate is unavailable, the most favored nation rate is used instead. To the extent possible, specific rates have been converted to their ad valorem equivalent rates and have been included in the calculation of simple mean tariffs. Manufactured products are commodities classified in SITC revision 3 sections 5-8 excluding division 68.