4 Oct 2018
INDIA: Import Duty Raised in Bid to Counter Rising National Debt
Government has raised the Basic Customs Duty (BCD) on a range of imported products, including speakers, footwear, diamonds, jewellery, air conditioners, refrigerators, small washing machines, certain specified travel goods and a number of plastic items. The move forms part of a bid to reduce import levels and ease the pressure on the Indian Rupee occasioned by the widening national current account deficit.
Details of the amended duty rates most likely to affect Hong Kong exporters are listed below, while a full list of the revised rates can be accessed here.