Customs waiver to boost local players, made in India products: Industry

New Delhi: The budget proposal to waive customs duties on capital goods used to make electronics items like mobiles and TV sets would increase the competitiveness of local producers and boost the make in India programme, industry players said Friday. Finance Minister Nirmala Sitharaman in the Budget for 2019-20 also announced a hike in customs duties on imported products like indoor and outdoor unit of split system air conditioner, CCTV, IPTV, optical fibre and digital video recorder, making them expensive by around 8 per cent.

Industry players welcome the steps, stating that these would increase the competitiveness of local manufacturers.