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24%  
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Keyword: makeinindia

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  • India raises import taxes in move set to spook some foreign firms

    02/01/2020 1:36:43 PM PST · by entropy12 · 25 replies
    Yahoo/Reuters ^ | February 1, 2020, 8:03 AM EST | Aditya Kalra and Chandini Monnappa
    NEW DELHI/BENGALURU (Reuters) - India on Saturday raised taxes on imports of goods such as electronic items, toys and furniture, aiming to give impetus to domestic manufacturing in a move that will hit Sweden's IKEA and other foreign firms. The measures, announced by Finance Minister Nirmala Sitharaman in her 2020-21 budget, come amid criticism from some companies that India has increasingly resorted to protectionist rules that discriminate against foreign companies. Listing the new taxes, the government said they were in line with Prime Minister Narendra Modi's "Make in India" programme aimed at promoting domestic industry. Taxes on imports of items...