Export India: increase in customs duties
|
Theme: |
Customs and tax regulations |
|
Country: |
EU / India |
In addition, old taxes « Social », Education Cess (3%) and Secondary and Higher Education Cess (1%) were abolished and replaced by a new tax called « Social Welfare Overload » (social welfare surtax) 10% on the amount of customs duties.
Both measures have been effective since 2 February 2018.
These protectionist measures are the result of Indian policy that has been in place since 2014 to promote « Make in India » The government encourages international companies to establish themselves on Indian territory and encourages industries to supply locally (cf. International atmosphere of October 2014).
Objective: to reduce imports from Asia in general, and China in particular... to achieve self-sufficiency within 10 years!
An ambitious strategy that commits India to protectionist path, in complete contradiction with the Prime Minister's speech on the international scene: during his speech at the last economic forum in Davos, Narendra Modi had indeed advocated free trade by warning «protectionist forces » against the impasse of «Isolationism »…
* Official document detailing the tariff headings and the new rates of customs duty applicable available to our subscribers on request.
To go further...
- Contact our experts global supply chain management to design and pilot your cross-trade scenarios in Asia!
- Check out our service offer dedicated to triangular trade operations from, via or to Asia.
To read more
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce tortor lake, ornare dictum odio no, mollis tincidunt mi. Vivamus feugiat turpis ac consequattrices. Nam nec leo in nisi posuere vehicula. None porta tempus feugiat. Praesent shovel, urna sed placerat sodales, ex tellus ultricies velit, vitae auctor augue diam at quam. Praesent ornare arcu and sem curriculum molestie. Morbi congue arcu velit, a laoreet torture ultricies id. Duis vulputate lacinia magna, eget elementum mi pulvinar eget. Sed consectetur malesuada ultricies. In eget purus nect velit sodales ullamcorper eget in ligula. Mauris ulcers posuere lobortis. Nulla nisi purus, beaconra no is ac, faucibus lacinia torturer. Integer nunc duei, vehicula finishedbus had, euismod and orci. No mollis vestibulum luctus.
Interdum and malesuada fames ac ante ipsum primis in faucibus. Sed a ligula sagittis, eleifend metus ac, sagittis purus. Vivamus ut blandit dolor, id aliquam mi. Sed tempor tempus ornare. Sed nec risus a metus eleifend sagittis. Aenean had torture lectus. Aliquam varius iaculis curriculum. Aliquam stubborn gravida augue and elementum. Aliquam trestique interdum pretium. Nunc ut selerisk massa, sed venenatis diam. No vehicula luctus odio. Integer ac turpis massa.