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Customs duty cuts, levy withdrawals an ongoing process, not linked to global events: FM
The Business Guardian
|March 30, 2025
Finance Minister Nirmala Sitharaman on Thursday said the ongoing process of rationalizing customs duties and withdrawing the 6 per cent equalization levy, which began in 2023, is independent of any global events and will continue.
Sitharaman said customs duty reductions are part of India's broader objective to strengthen its manufacturing hub and boost battery and advanced chemistry capacities.
Replying to a debate on the Finance Bill 2025 in Rajya Sabha, Sitharaman said, "Consistently, budget after budget, we are coming up with a reduction in duties so that India's aspiration for being a manufacturing hub and India's aspiration in building capacities for battery manufacturing and advanced chemistry is being supported. So, this is a consistent thing."
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