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India Inc seeks auto trigger for safeguard duty on import of capital goods


India Inc seeks auto trigger for safeguard duty on import of capital goods
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In its proposal to the commerce and industry ministry, industry has also sought a 25% depreciation for capital goods and a weighted deduction for R&D spends to encourage investment and domestic manufacturing in the sector, in the upcoming Budget.
NEW DELHI: India Inc has sought an auto trigger to invoke safeguard duty in case of sudden surge in imports of capital goods. India imported $30 billion of capital goods from China, the US, Germany, Japan and South Korea in FY20 and its import dependence in various capital goods ranges between 25-75%. In its proposal to the commerce and industry ministry, industry has also sought a 25% depreciation for capital goods and a weighted deduction for R&D spends to encourage investment and domestic manufacturing in the sector, in the upcoming Budget. ....

South Korea , Aditi Nayar , National Capital Goods , Confederation Of Indian Industry , India Inc , Indian Industry , Investment Allowance , National Capital Goods Policy , Common Facility , தெற்கு கொரியா , தேசிய மூலதனம் பொருட்கள் , கூட்டமைப்பு ஆஃப் இந்தியன் தொழில் , இந்தியா இன்க் , இந்தியன் தொழில் , முதலீடு கொடுப்பனவு , தேசிய மூலதனம் பொருட்கள் பாலிஸீ , பொதுவானது வசதி ,