On horizon: Sunset date for increases in import tariffs to boost local manufacturing

On horizon: Sunset date for increases in import tariffs to boost local manufacturing

by

India had in July imposed restrictions on the import of some types of colour televisions, imports of which added up to $800 million in FY20.

Synopsis

“Increase in import tariffs to provide some protection to local industry will now come with a sunset date,” the official said. “The idea is to ensure that the local industry makes sincere attempts to become competitive instead of just relying on protection from higher import tariffs.”

New Delhi: India is likely to introduce a sunset date for higher import tariffs imposed on goods such as mobile phones and televisions to boost local manufacturing. Policymakers are of the view that an end date to tariff measures announced to give a boost to the Make in India programme is necessary. This will push local manufacturing to become globally competitive within the given concession period, a top government official aware of

BY

ET Bureau

4 mins read, Last Updated:

  • GIFT ARTICLE
  • FONT SIZE

    AbcSmall

    AbcMedium

    AbcLarge

  • SAVE
  • COMMENT

To Read the Full Story, Become an ET Prime Member

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Access the exclusive Economic Times stories, Editorial and Expert opinion

Already a Member?

Why ?

  • Sharp Insight-rich, Indepth stories across 20+ sectors

  • 42031747

    Access the exclusive Economic Times stories, Editorial and Expert opinion

  • 42031747

    Clean experience with
    Minimal Ads

  • 42031747

    Comment & Engage with ET Prime community

  • 42031747

    Exclusive invites to Virtual Events with Industry Leaders

  • 42031747

    A trusted team of Journalists & Analysts who can best filter signal from noise





Source link

Leave a comment