Transiting ports to get faster, cheaper

India now has eight core tariff rates: zero, 5%, 10%, 15%, 20%, 30%, 50% and 70%, barring outliers such as wine and alcohol that are levied higher duties. Free trade deals offer concessions on these rates.

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Calibration of customs duty rates on specified goods are also being examined to align the rates with India’s industrial goals of keeping imported raw material and machinery costs low and for providing sufficient tariff protection for domestic production of intermediate-to-final goods as the country seeks to achieve backward integration in manufacturing.