A court in Mumbai sentenced a customs clearing agent to two years' imprisonment in four cases of import duty evasion, while acquitting three others due to flawed investigation by the CBI.
The gems and jewellery industry anticipates challenging times following the government's decision to increase gold import duty to 15 per cent, a move that exporters warn could fuel the grey market and heighten smuggling risks.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes while recycling of old jewellery has increased following the recent hike in import duties.
The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
German carmaker Audi plans to reassess and adjust its product launch strategy in India once the specific details of import duty reductions under the India-EU free trade agreement (FTA) become clear, according to Balbir Singh Dhillon, the brand's director in India.
India has capped gold imports under the Advance Authorisation scheme at 100 kg, a day after significantly increasing import duties on precious metals. This move aims to tighten conditions for duty-free gold imports by jewellery exporters and curb non-essential imports amidst a ballooning import bill.
The US Trade Representative has proposed an additional 12.5 per cent duty on goods from 54 countries, including India, citing their failure to prohibit the import of goods produced with forced labour. India has denied the allegations and called for the matter to be resolved through bilateral trade negotiations.
Revenue intelligence and customs officers are set to intensify surveillance and increase vigilance on international borders to combat potential gold smuggling following a significant increase in customs duty on gold.
India's organised gold jewellery retail sector is projected to experience a 13-15 per cent year-on-year decline in sales volumes this fiscal, following an 8 per cent drop last year, due to elevated gold prices and a recent import duty hike, according to a Crisil report.
The Central Board of Indirect Taxes and Customs (CBIC) announced the implementation of the Eligible Manufacturer Importers (EMI) scheme from April 1, allowing eligible importers to defer customs duty payments.
The United States has announced a preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar goods, alleging unfair subsidisation. This move could impact India's renewable energy sector and its efforts to boost domestic solar manufacturing.
Finance Minister Nirmala Sitharaman on Saturday announced the removal of import duties on 12 critical minerals, lithium-ion batteries scrap, cobalt products, LED, zinc and 36 drugs for cancer and rare diseases.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
Industry bodies representing alcoholic beverage manufacturers have welcomed the India-UK Free Trade Agreement (FTA), which will see tariffs on UK whisky and gin reduced, boosting bilateral trade and supporting premiumisation. However, domestic manufacturers are calling for state governments to withdraw concessions currently enjoyed by imported liquor brands.
India has launched anti-dumping investigations into imports of thermal paper, Biaxially Oriented Polyamide (BOPA) Film, and certain antioxidants from China, following complaints from domestic manufacturers alleging material injury due to cheap imports.
India maintains "high" import duties on a wide range of American goods such as agricultural items, drug formulations, and alcoholic beverages, besides imposing non-tariif barriers, a US report has said. A day before announcing reciprocal tariffs, the US Trade Representative (USTR) released the 2025 National Trade Estimate (NTE) Report on March 31.
Import duty cuts on labour-intensive sectors such as textiles and footwear, as well as cars, and wines, are likely to be part of the free trade agreement between India and the 27-nation bloc European Union (EU), the conclusion of which is set to be announced on January 27 here, sources said.
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
The Petroleum Planning and Analysis Cell (PPAC) has denied an RTI request for data on oil imports from Russia, citing its 'commercial and confidential' nature and exemptions under the RTI Act. The Central Information Commission supported this decision, referencing strategic and economic interests.
Shares of Waaree Energies and Premier Energies are under pressure after the US imposed initial duties on Indian solar imports. The article examines the impact on green energy stocks and market sentiment.
The Indian central government has reduced its total expenditure by approximately 60,000 crore in FY26, below its revised estimate, to successfully achieve the fiscal deficit target of 4.4 per cent of gross domestic product (GDP), according to the latest data from the Controller General of Accounts (CGA).
IDFC First Bank has integrated with ICEGATE 2.0 to enable digital payment of customs duty, central excise, and service tax for its customers.
India will lower duty on European apples to 20 per cent under the trade pact, but the imports would be capped at 50,000 tonnes per year and subject to a minimum import price of Rs 80 per kg, thereby fully protecting domestic farmers, an official said on Wednesday.
'I own a few cars that I have had specified minutely to my taste, and it does feel nice to know that there are no other vehicles like them anywhere in the world.'
Despite India's electric passenger vehicle market experiencing an 83.6% year-on-year surge in FY26, new foreign entrants VinFast and BYD have significantly outpaced Tesla, which struggles with high import duties, a limited retail footprint, and a lack of local manufacturing commitment.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
The Central Board of Indirect Taxes and Customs (CBIC) has enabled UPI, debit, and credit card payments for Customs duty on the ICEGATE portal, enhancing ease of doing business for importers and exporters.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
This import duty exemption would remain in force till October 31 this year.
India has strongly refuted claims by the United States Trade Representative (USTR) regarding excess capacity in its steel and textile sectors, arguing that the nation's significantly low per capita consumption of these products contradicts such assertions, according to Amitabh Kumar, Additional Secretary in the Ministry of Commerce.
Titan will continue investments, even as it notes it is too early to assess how customer sentiment and store footfalls will be impacted by the Prime Minister's appeal to reduce gold consumption and the recent hike in import duty.
India has fully protected its sensitive sectors like dairy, rice, wheat, pulses, tea, genetically modified (GM) goods, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral free trade agreement, according to the Commerce Ministry.
'While higher prices may create some financial burden for patients and caregivers in the short term, uninterrupted access to treatment remains the greater priority.'
The Supreme Court has declared the right to walk on demarcated footpaths a fundamental right, prioritising it over motorised vehicle movement, and has called for the establishment of a regulatory body to ensure its enforcement and provide restitutionary remedies for violations.
The government has hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal. The duty changes came into effect on June 30. Earlier, the basic customs duty on gold was 7.5 per cent, now it will be 12.5 per cent.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
The India-Oman free trade agreement, operationalised on June 1, is set to create significant export opportunities for India's labour-intensive and value-added sectors, including textiles, gems and jewellery, and marine products, while also strengthening energy security.
The Supreme Court of India has emphasised that a husband's obligation to maintain his wife is a primary and continuing duty, ensuring she lives with dignity and in a manner commensurate with her marital status.
