Customs clean-up next: How India plans to simplify duties and cut costs
New Delhi: Indian businesses and the country’s trading partners alike have flagged the need for a simpler customs duty framework. The global supply-chain disruptions and US tariffs have further amplified the need to review the regime. Finance minister Nirmala Sitharaman has called it the next “clean-up" exercise after the income tax and goods and services tax reforms. As part of the customs duty reform, the government aims to streamline regulatory architecture to reduce costs and make the economy more efficient and appealing to investors.
