ANNOUNCEMENT 01 Feb 2022

India has reduced the import duty on several textile goods.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Notification No. 07/2022-Customs
https://www.indiabudget.gov.in/doc/cen/cus0722.pdf

Inception date: 02 Feb 2022 | Removal date: open ended

Import tariff

On 1 February 2022, the Indian Ministry of Finance through Notification No. 7/2022-Customs reduced the import duty of several textile goods classified under HS codes chapters 52, 54, 55, 58, 60, 61, and 62. The amendment is part of the Budget 2022-2023 and is effective from 2 February 2022.

For some of the affected goods, an ad valorem rate and a specific duty rate are applicable. On the other hand, for several other goods, an ad valorem rate and a specific duty rate have been replaced by an ad valorem rate only.