Import Duties

The government may consider import duty rejigs specifically for components or inputs that have limited potential when it comes to make in India.

India must double steel import duties to curb dumping, says ArcelorMittal JV CEO

India's steel industry faces threats from dumping and predatory pricing. ArcelorMittal Nippon Steel India CEO calls for doubled customs duties to protect domestic producers.

Beijing 'firmly opposes' EU tariffs against Chinese EVs

EU countries voted to approve imposing tariffs of up to 45 percent on Chinese EVs, despite German warnings that it will spark a trade war with Beijing.

Higher import duties on oils effective September 14 to support farmers

India’s import of palm and sunflower oil have increased over 30 percent in volume in the first six months of the year

India’s removal of duties on apples & walnuts in response to US' removal of tariffs on steel: Commerce ministry

The US and India had a number of disagreements on trade in recent years. In 2018, the US imposed 25 percent and 10 per cent import duties on certain steel and aluminium products, respectively, on grounds of national security. In retaliation, India in June 2019 imposed customs duties on 28 American products

Freeze import duties for next five years; cut customs levy slabs to 5: GTRI to Government

The Global Trade Research Initiative (GTRI) also suggested retaining import duty on components; removal of inverted duty issues; and reduction of customs duty slabs to 5 from 25 at present to avoid confusion and minimise litigation.

Budget 2023: RSS affiliate seeks protectionist measures to counter China

The government should significantly increase tariffs in the upcoming budget, Ashwani Mahajan of the Swadeshi Jagran Manch says.

Exclusive | Industry seeks lower import duty on raw materials in a dozen sectors: Sources

While imports are set to get costlier, the cascading effect of a fast-depreciating currency is set to result in higher prices of gems and jewellery, fertilisers and capital goods, Ind-Ra has said.

Auto Body seeks reduction in CNG prices, import duty cut on raw materials

Auto industry body SIAM on Sunday sought a reduction in CNG prices and import duties on certain raw materials for steel and plastic products while welcoming the government's decision to lower the petrol and diesel prices.

Exclusive | Government may cut effective import duties on crude edible oils further

The government is prepared to support custom duty cuts on crude edible oil imports beyond the initial deadline of September 2022. Russia’s invasion of Ukraine has shut down sunflower oil imports from both countries. Palm oil shipments from Indonesia and Malaysia have been disrupted by high prices and domestic shortages in those markets.

India-UAE trade to touch $100 billion in five years: Key numbers from CEPA

The Indian delegation was led by Union Minister of Commerce and Industry Piyush Goyal, while the UAE delegation was led by Minister of Economy Abdulla bin Touq Al Marri and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.

Tesla in India | States inviting Tesla to set up EV manufacturing plants

A number of Indian states have rolled out the red carpet for Elon Musk’s American electric vehicle company, Tesla, after he told a netizen that Tesla is facing challenges in getting clearance to launch its vehicles in India. Tesla had last year sought a reduction in import duties so that its company’s high-performance electric cars can begin to sell in India.

After Telangana, Maharashtra, now Punjab woos Elon Musk to cradle Tesla hub

Tesla has complained that "high import duties" imposed by the Government of India on completely build units of foreign automobiles would restrict the sales of its vehicles as well as that of electric vehicles in general.

After Tesla, Mercedes Benz asks India to reduce import duties

In July, Tesla chief Elon Musk took to Twitter raising concerns over high import rates that are pushing back entry of the e-vehicle maker in the country.

Hello World | India’s smartphone manufacturing playbook was smart, now to do the same with electric vehicles

Production-linked incentives will give global EV manufacturers a good reason to make in India.

US demands tariff cuts from India on information & communication-related products: Report

India may not be able to accommodate these demands as the Centre feels it may go against its Make in India initiatives and cost it customs revenue

Higher revenue from customs duties to help govt rein in fiscal deficit: Report

Net customs revenue reportedly grew 26 percent in the first six months of the current fiscal, higher than the 19 percent the government expects in basic customs duties

Trade a big friction in India-US ties: White House

The remarks came days after US President Donald Trump publicly raised the issue of high import duty by India on motorcycles at least three times in a month and threatened a reciprocal duty on Indian imports.

Govt notifies roll back of import duties on mobile components

In the Budget for 2016-17, Finance Minister Arun Jaitley had proposed to levy a basic customs duty of 10 percent on charger or adaptor, battery, wired headsets for use in manufacture of mobile handsets including cellular phones.

FinMin may hike ECB limit, import duty on luxury goods

CNBC-TV18‘s Aakansha Sethi reports that the finance ministry is considering several measures like a hike in external commercial borrowing (ECB) limits and hike import duty of luxury items to curb rupee slide.

Concrete steps by RBI to stem rupee fall needed: StanChart

The rupee has tendencies to fall furthermore, if the necessary steps are not taken by the Reserve Bank (RBI), says Priyanka Kishore of Standard Chartered.

Assocham seeks duty exemption on imported iron ore

With a view to reviving the ailing steel industry and incorporate investments made in the sector, Assocham today sought exemption of iron ore from import duties as in the case of other minerals like coal.

FinMin for export parity pricing of diesel

In a move that will hit oil PSUs hard, the Finance Ministry wants changes in the way petrol and diesel are priced by suggesting excluding the element of import duties to save about Rs 18,000 crore in subsidy bills.

Budget Expectations: Godrej Consumer CMD to be concerned if excise duty is hiked

According to the chairman and managing director of Godrej Consumer Products, A Mahendran, there is a need for concern if excise duty rates are hiked from the current 10%.