Govt weighs junking customs relief in 'Make in India' push
customs duty exemptions for certain imported components such as bulk drugs used to manufacture certain insulins, raw material to produce rough lab grown diamonds, plastics used to manufacture optical fibre, components used in LED and LCD TV panels and goods required for coal mining and power generation to boost their local manufacturing.
ET Year-end Special Reads
Gold outshines D-St with 20% returns, but 2025 may be different
The year of the pause: How RBI maneuvered its policy in 2024
2024, the year India defeated China's salami-slicing strategy
The government is examining the data on planned investments, domestic production and capacity of 31 products where conditional customs duty rates and exemptions are set to expire by September 30, 2025. The finance ministry has sounded out the concerned ministries and departments and sought their inputs.
At present, the basic customs duty on these products is 0-5%.
«The exercise to review customs duties is going on to decide whether the exemptions should continue or be allowed to lapse. We have sought input from industry,» said an official.
Strategy
ESG and Business Sustainability Strategy
By — Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader
Web Development
Java 21 Essentials for Beginners: Build Strong Programming Foundations
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By — Metla Sudha Sekhar, IT Specialist and Developer
Leadershi
