India is reviewing the extension of customs duty relief on critical raw material imports beyond June 30. An inter-ministerial panel will discuss easing curbs on inputs, consider new duties on local electronics, and evaluate requests from the pharma and steel sectors.
India's Finance Ministry has granted retrospective customs duty relief on specified nuclear power generation equipment imported between April 1, 2019, and January 31, 2026. This move exempts eligible imports from past duty demands, regularizing shipments and providing certainty to importers.
India's government is in advanced talks to potentially remove an 11% customs duty on raw cotton imports to ease cost pressures on the domestic textile industry, which faces a significant supply-demand gap.
India has restricted imports of silver bars (99% pure and 'other' types) by moving them to a 'restricted category' requiring a license. This follows a doubling of customs duty to 15% and aims to curb surging shipments amid rising global prices and industrial demand.
India's 15% customs duty hike on gold imports may increase domestic prices, divert supplies to unofficial channels, and impact the current account deficit (CAD), though gold's role as the sole CAD driver is debated.
Gold prices in India have surged after the government increased customs duty on gold from 6% to 15% to discourage imports, potentially impacting jewellery stocks and consumer demand.
India raises import duties on gold and silver to 15% to curb purchases and ease pressure on the rupee, amid rising energy costs and trade deficit
