India may rationalise most customs tariffs by FY28 Budget, Sitharaman says
Finance Minister Nirmala Sitharaman said India could rationalise most customs tariffs by the FY2027-28 Budget, with cuts continuing for all but a limited set of items. The move could reshape import costs, sourcing decisions and consumer pricing for retailers and brands.
Finance Minister Nirmala Sitharaman said India may rationalise most customs tariffs by the FY2027-28 Budget, with further reductions continuing for all but a few items. The policy could affect import costs and pricing for Indian retailers and consumer brands.
Why this matters
The tariff plan builds on India’s target for single-digit tariffs on most items by FY28, while contrasting with its refusal of US ethanol-import concessions and its extension of electronics supply-chain incentives to 2041.
Retail-company signals are accelerating, up 94,969% quarter over quarter.
Also reported by
- The Hindu BusinessLine — Same time