Sitharaman signals big customs reform

Reforming India's customs duty regime, by lowering rates on select goods, increasing transparency, and reducing officials' discretion, will be the next major economic reform push, finance minister Nirmala Sitharaman said on Saturday.

- Gireesh Chandra Prasad [e-mail]

Speaking at the HT Leadership Summit 2025, the minister said the proposed reforms would be similar to the reforms and simplification in the Income Tax Act, which will be administered by a new statute starting April.

"There are quite a few things to do," the minister said in response to a question on the next set of reforms being planned by the government.

"It is the complete overhaul of the customs. We need to have customs a lot more simplified for people to feel that it is not too tiresome and cumbersome to comply with," Sitharaman said, adding that rules have to be made more transparent.