200% import duty hike to hit toy business in India: Importers
Feb 08,2020The Centre, in the Union budget presented by Finance Minister Nirmala Sitharaman, has proposed raising the import duty on toys from 20 per cent to 60 per cent from the next fiscal, saying that the step would support the MSMEs and promotes local manufacturing.
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Government has taken specific steps to boost exports: Nirmala Sitharaman
Feb 11,2020The minister said textiles and all other sectors, which currently enjoy incentives up to 2 per cent over MEIS, will transit to RoDTEP. "In effect, RoDTEP will more than adequately incentivise exporters than the existing schemes all put together," Sitharaman said, adding that now the concerns raised over withdrawal of MEIS is addressed.
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