India to raise import duties on more than 50 items
January 27, 2020
India is planning to raise import duties on more than 50 items such as electronics, electrical goods, furniture, chemicals, and handicrafts.
This move is going to affect smartphone manufacturers that still import chargers and other components.
IKEA’s plan to expand its footprints in South-Asian-sub-continent may be put into jeopardy due to the rising import tariff duties.
The reason India seems to increase the import duties rates is to revive the struggling Indian economy.