Customs duty changes in Budget will promote Make in India initiative: GTRI ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 14
Customs duty changes for several products such as precious metals, small cars, bicycles, toys and telecommunication components in the Budget will help promote the Make in India initiative of the government, economic think tank GTRI said on Friday. The Global Trade Research Initiative (GTRI) also said the import duty changes in Union Budget 2023-24 affect products that count for less than USD 14 billion or 2 per cent of the value in India's current import basket. A large part of the Budget exercise was devoted to reducing the number of duty slabs and exemptions. The government continued with the current import duty structure, making changes only when it has big reason to do so. This will all

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