India to review tariff surcharge on luxury goods, renewables, chemicals amid US pressure
NEW DELHI - India is set to review import tariffs on over 30 items including luxury cars and solar cells, potentially leading to higher imports from the United States, a senior finance ministry official said.
In a bid to counter President Donald Trump's growing tariff actions, the government has already reduced tariffs on several items including high-end bikes, cars, and chemicals in the latest budget, while imposing additional Agriculture Infrastructure Development Cess , an alternative tariff, on many items.The Indian budget on Saturday slashed basic customs duties on several items including luxury cars, solar cells and machinery.
Transport vehicles and used motor vehicles face an AIDC tariff of 20% and 67.5% respectively, while basic customs duty has been lowered to 20% from 40%.Solar cells, modules, and other semiconductor devices attract a surcharge of 7.5% to 20% on top of a reduced import tariff of 20%, down from 25%-40%.Laboratory chemicals now face a reduced basic customs duty of 70%, down from 150%, along with an agriculture cess of 70%.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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