💨 Abstract

India has reduced its average customs duty rate from 11.65% to 10.66%, aiming to match rates in Southeast Asian countries. The move is intended to simplify the tax regime, enhance trade competitiveness, and support India's integration into global supply chains. The government has also focused on ensuring the availability of critical minerals for manufacturing, particularly in sectors like semiconductors, clean energy, and space programs.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖