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We’ll have to move to lower customs duty regime: Govt
![IndiaTimes]()
Friday, 5 January 2024
India will eventually move to a lower customs duty regime and cannot protect domestic manufacturers by citing infant industry argument, according to a senior government official. Customs duties are not considered a revenue source and are used as a policy tool to protect certain sectors. Tariffs may be used creatively to protect industries from predatory pricing or dumping. While weak sectors need protection, high tariff walls for successful segments must be reduced. Experts recommend India to cut import duties to integrate with global value chains.
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Friday, 5 January 2024
