India to review import tariffs on 30 items before PM’s US visit
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, it is learnt. 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 recent Budget, while imposing additional Agriculture Infrastructure Development Cess (AIDC), an alternative tariff, on many items.
The Budget slashed basic Customs duties on several items including luxury cars, solar cells and machinery. The peak import tariff has been cut from 150% to 70%, and average tariffs to below 11% from 13%, while the alternative tariff, AIDC, has been raised on certain items, as per a report.
Source: Exim News Service: New Delhi, Feb. 6