India's Manufacturing Sector Calls for Lower Import Tariffs and Incentives Ahead of Budget 2025

As India prepares for Budget 2025, the electronics industry is urging the government to lower import tariffs on essential components to enhance competitiveness. Key requests include reducing duties on items like printed circuit board assemblies and microphones. Industry leaders argue that these changes are crucial for attracting foreign investment and boosting local manufacturing capabilities. Additionally, there are calls for extending the 15% tax rate for new domestic manufacturers to stimulate growth amid rising global trade tensions.

Source: Financial Express.