India proposes to hike customs duties for alloy steel, wires of alloy steel, stainless steel products

Friday, 05 July 2019 15:45:54 (GMT+3)   |   Kolkata

The Indian national budget presented before the national parliament has proposed to increase customs duty on alloy steel and wires of other alloy steel to 7.5 percent from five percent at present, according to budget papers presented on Friday, July 5.

The government has also proposed to increase customs duty on stainless steel products to 7.5 percent from 2.5 percent, according to the budget papers presented to parliament.

“The changes in customs duties are to provide a level playing field to domestic producers,”  finance minister Nirmala Sitharaman said while presenting the Indian Budget 2019-20 to parliament.

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