India to bring custom rate to zero

India has announced that it would bring custom rate to zero to the least developed four South Asian countries including Nepal for the entrance of their market in India.

Indian Prime Minister Manmohan Singh made this announcement while delivering inaugural speech on 14th summit of South Asian Association for Regional Cooperation (SAARC) in Indian capital New Delhi on Tuesday.

PM Singh said his country would bring the custom rate to this level by the end of this year. "We all should go through the concept of unified open marker from the Himalaya to the Pacific," he said. PM Singh also said Indian was ready to open market for all South Asian countries with out any sort of discrimination.

Similarly, putting forward the concept of ' South Asian Energy Community', he pointed out the need to consolidate energy market through extending transmission line.