01:45 GMT14 August 2020
Listen Live
    India
    Get short URL
    113
    Subscribe

    New Delhi (Sputnik): Announcing a $266 billion economic stimulus package on 12 May in the wake of the COVID-19 pandemic, Indian Prime Minister Narendra Modi also called for a self-reliant economy.

    Within weeks of extending the anti-dumping duty on Chinese steel until December, India has yet again imposed import restrictions on Chinese products. 

    New Delhi has hiked the customs duty on bamboo imports to 25 percent from the current 10 percent. The move is aimed at encouraging the use of domestic bamboo in the manufacture of incense sticks. 

    "Higher import duty on bamboo will discourage Indian incense stick manufacturers to source cheap bamboo from China and will instead help the domestic bamboo industry. We have given a lot of incentives to the incense stick sector too in the past", said a source from India’s federal Ministry of Commerce. 

    India has extended the anti-dumping duty on certain varieties of steel through December 2020 to insulate domestic companies from cheap imports of the commodity from China and other nations, like South Korea and Malaysia.

     

    Related:

    India Imposes 25% Safeguard Duty on Solar Cell Imports from China, Malaysia
    India Slaps Pakistani Goods With 200 Percent Import Duty After Kashmir Attack
    India Considers Import Duty Hike to Boost Domestic Manufacturing, Chinese Products to be Affected
    Tags:
    steel, economic stimulus, customs, import, India
    Community standardsDiscussion