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On horizon: Sunset date for increases in import tariffs to boost local manufacturing
Synopsis
“Increase in import tariffs to provide some protection to local industry will now come with a sunset date,” the official said. “The idea is to ensure that the local industry makes sincere attempts to become competitive instead of just relying on protection from higher import tariffs.”
New Delhi: India is likely to introduce a sunset date for higher import tariffs imposed on goods such as mobile phones and televisions to boost local manufacturing. Policymakers are of the view that an end date to tariff measures announced to give a boost to the Make in India programme is necessary. This will push local manufacturing to become globally competitive within the given concession period, a top government official aware of
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