Import Duty

India's offer to the EU will be on similar lines to the one sealed between India and the United Kingdom (UK), subject to further negotiations, said a government official privy to the matter.

India removes import duty on cotton in temporary relief for garment industry

The temporary suspension of the duty is seen as a relief for India’s garment industry, which is reeling from a steep 50% tariff on shipments to the US

JSPL, SAIL, Tata Steel shares shine after DGTR proposes three-year safeguard duty on key imports

The safeguard duty will kick in at 12 percent in the first year, followed by 11.5 percent in the second year, and 11 percent in the third year. DGTR said the decision is due to a surge in steel imports, especially from China, along with a steep fall in domestic industry profits.

India may cut more import taxes as manufacturing picks up speed

In the first major overhaul of its tariff structure, India removed high rates from some 8,500 industrial goods. While the tax incidence has remained the same because of additional levies on imports, Agarwal said the surcharges are “temporary in nature and would eventually be phased out.”

Centre considering duty relief for domestic aluminium manufacturers: CNBC-Awaaz

Any reduction in the raw material cost could make domestic aluminium production more competitive in the global market, and are expected to weather the onslaught of cheaper imports.

Steel ministry favours temporary tax to check imports, source says

A temporary "safeguard duty" would help curb Chinese imports, and a process to impose the duty would start soon, said a government official

Global price decline in edible oil, new crop to cushion inflationary impact of import duty hike, economists say

The upcoming soybean and groundnut harvests in October are anticipated to further mitigate any inflationary effects of the duty hike on edible oil, according to economists.

China's steel industry in bad shape, their exports a problem to us: Tata Steel's TV Narendran

Narendran said India has enough iron ore for it not be importing the finished product, even as he acknowledged a section of consuming industries who are seeking cheaper steel.

India extends anti-subsidy duty on welded stainless steel pipes and tubes imported from China, Vietnam

The duty has been levied on products such as welded stainless steel pipes and tubes exported by China and Vietnam for the next five years

Iron ore prices struggle at multi-year lows in a 'challenging' global environment

Prices of iron ore have been slipping this year, down more than 33 percent, to test multi-year lows as domestic consumption from China remains weak, with no sign of any recovery.

Heavy Industries Minister backs 12 percent import tariff on Chinese steel

Inventories of major construction raw materials are piling up in China as economic activity remains weak, leading to unsold surplus of commodities such as steel.

Trump 2.0 can pose greater challenges for India: JPMorgan's Jahangir Aziz

Donald Trump's plan of imposing 60 percent tariff on Chinese imports into USA may also emerge as a challenge for India.

Where’s the competitive spirit in India’s duty drill?

The World Tariff Profiles 2024 indicate that it’s high time for the country to shun the preference for protectionism

Sovereign gold bonds will get at least 12% total return: Revenue Secy

Investors who participated in the SGB scheme 2016-17 -series 1, issued in August 2016, are nearing their final redemption, which is set for the first week of August 2024.

How the budget has made gold investment attractive

Lowering duties ahead of the festival season will help improve demand, benefiting all stakeholders. For digital gold, lowering LTCG on gold funds or gold exchange-traded funds (ETFs) aims to realign the tax structure of various asset classes

Gold import surge under FTAs prompts duty cut in Budget: CBIC chairman

"During the period that the import duty on gold had gone up, we noticed that gold imports under certain Free Trade Agreements (FTAs) had gone up. In addition to that, smuggling was on a rise."

Duty cut benefit in EV policy not to impact domestic players; to expand market

Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said that the government has taken the view of all the concerned stakeholders on the policy, which was balanced to the public interest.

India cuts import duty on blueberries, turkey in line with agreement with US

This move is in line with India's intention to bring down the import duty on some fresh and processed food items as part of a larger dispute settlement between New Delhi and Washington at the World Trade Organization (WTO).

Talks with Tesla to slow down until general elections 2024: Government official

Officials say that although Tesla is keen on its India foray, it does not see India as a huge market just yet. Its charging infrastructure will take a few years to develop and only then can it think of a presence here, they say.

Gold imports adding to revenue growth, no case for a lower levy: Revenue secretary

The imports of the yellow metal are expected to touch 800 tonnes in 2023-24.

Import duty cut on handset parts brings certainty, clarity for industry: Ashwini Vaishnaw

Experts said that the move to slash import duty for components used in manufacturing mobile phones to 10 percent from 15 percent earlier may allow handset makers to slash prices in the entry or budget smartphone segment.

Ahead of Budget, Centre lowers import duty on mobile phone parts to 10%

Firms in the industry have been advocating for duty cuts on approximately 12 components to lower the production costs of smartphones in India.

Ashwini Vaishnaw sees case for duty cuts on mobile phone parts

India is considering import duty cuts on components key to producing high-end mobile phones, in a potential boost for companies like Apple and the country’s exports, government sources told Reuters last week.

India eyes import duty cuts on mobile phone parts, sources say

Companies in the sector have been pushing for cuts on nearly a dozen components to reduce the cost of making smartphones in India and level up the playing field with regional competitors such as China and Vietnam.

Govt extends import duty exemption on tur, urad dal by one year to March 2025

The inflation rate on pulses was recorded at 20 percent in November, according to data available from the statistics ministry.