In terms of import tariffs, India has adjusted the import tariffs on gold, silver, copper, solar modules, cotton and other items. In the future, the prices of gold, silver, copper and iron products, leather goods, and nylon clothing will decrease, and the prices of imported auto parts, solar cells, mobile phones, and imported gems will rise.
Increase the tariff on solar inverters from 5% to 20%, and India is “removing” tariff exemptions for all machinery, instruments, electrical appliances, parts or auxiliary equipment used to construct solar projects;
The footwear tariff will be increased from 25% to 35%;
The toy tariff increased from 20% to 60%;
The tax rate for furniture such as seats, lamps and mattresses will be increased from 20% to 25%;
The tariffs on electrical appliances such as fans, food grinders/blenders, razors, water heaters, ovens, toasters, coffee machines, heaters and irons, as well as fixed items such as filing cabinets and paper plates, have been increased from 10% to 20%;
The tariff for commercial refrigerators will be increased from 7.5% to 15%;
The tariff on refrigerators and air-conditioning compressors will be increased from 10% to 12.5%;
The tariff for railway fans has been increased from 7.5% to 10%;
The tariff for welding and plasma cutting machines has been increased from 7.5% to 10%;
In terms of electric vehicles, the tariffs on imported fully completed electric buses and electric trucks have been increased from 25% to 40%, the tariffs on semi-finished products of buses, trucks and two-wheelers have been increased from 15% to 25%, and the tariffs on passenger cars and tricycles Increase from 15% to 30%, and increase tariffs from 10% to 15% for all imported kits for electric vehicles (parts are imported to India for assembly);
India has already exported a large number of mobile phones and chargers. The purpose of increasing import tariffs this time is to further increase the added value of domestic products. Some original zero-tariff products have been slightly increased to 2.5%, including assembly printed circuit boards of mobile phone components and camera modules. The import tariff on groups, connectors, LED lights or devices will be increased from 5% to 10%;
Tariff on shelled walnuts will increase from 30% to 100%.