Read about the letter written by IT Minister Rajeev Chandrasekhar to Finance Minister Nirmala Sitharaman proposing a reduction in import duty on electronic components to boost the country's export growth. Find out how India aims to become a global leader in electronics manufacturing.
India imposes 100% import duty on cars with cost, insurance and freight value of more than USD 40,000 (about INR 33 lakh), and 60% for those below that threshold. Tesla is willing to invest up to USD 2 billion if the Indian government offers reduced import duty of 15% on imported electric cars in the first two years of operations, ET reported in December.
India imposes 100% import duty on cars with cost, insurance and freight value of more than $40,000 (about Rs 33 lakh), and 60% for those below that threshold. Tesla is willing to invest up to $2 billion if the Indian government offers reduced import duty of 15% on imported electric cars in the first two years of operations, ET reported in December.
For the fourth time in one month, the benchmark foreign exchange (FX) rate for computing import duties has been raised to N1,444.56/$. The rate was adjusted on February 2 to N1,356.883/$ and reviewed to N1,413.62/$ on Friday February 3.