Import duties on electronic goods, including electronic goods

New delhi date. January 25, 2020, Saturday

In the coming budget, the government is likely to announce an increase in the duty on electronic, electrical, chemicals and other goods imported from China and other countries. Deutsches on an estimated $ 3 billion in imports are on the rise, finance ministry sources said.

It was also reported that the increase was aimed at emphasizing the Make in India program and increasing consumption of local products. The announcement will be made in the budget presented on Saturday, February 1st.

In the wake of the increase in import duties, goods such as mobile phones, phone chargers, industrial chemicals, wood furniture etc. are expected to be expensive in the country. Importers of mobiles who manufacture mobiles in India who have increased their duty on raw materials or components will be costly.

Import duties are likely to increase by five to seven percent, sources said. The increase is being done to reduce imports and encourage consumption of domestic products in the country.

Due to the cheap imports from some countries, including China, domestic manufacturers are being hit. An increase in import duties is necessary to protect domestic producers and provide a boost to Make in India, the sources said. Apart from increasing import duties, the government also wants to emphasize quality standards. The rules for this will be made more stringent. It is worth mentioning here that while the budget preparation exercise has started in the finance ministry, the finance ministry is considering the recommendations made by the domestic industry.