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India to hike import duties by 5%-10% on more than 50 items Tag

Daily Market Analysis

Daily Market Analysis – 19th Jan 2021

byMihir ShahJanuary 19, 2021

India is considering hiking import duties by 5% – 10% on more than 50 items in the upcoming budget. The move to increase the duties is part of the self-reliant India campaign by PM Narendra Modi. This move would add revenue of about $2.7Billion for the government. Companies like IKEA and TESLA could be affected. Motherson Sumi is set to acquire a 75% equity stake in two...