By Admin 
Giving relief to the electrician and mobile phone making companies, the Central Government has abolished import duty from above the essential parts used in manufacturing of these two. It was announced on Tuesday by the government.
Giving information about the decision, Union Finance Minister Nirmala Sitharaman said that this has been done due to efforts to promote domestic product and strengthen export competition. This is a part of the widespread fee, so that the possible effect of tariffs can be reduced.
Finance Minister said before the passage of Finance Ordinance 2025 in Parliament- We are reducing these fees on raw materials to increase export competition along with promoting domestic production.
Significantly, earlier a report by news agency Reuters said that the Government of India is considering reducing duty on more than 1.9 lakh crores ($ 23 billion) in the first round of the Government of India."Text-Align: justify;"> With the decision taken by the Central Government on the electric vehicle, 35 products used in the production of EV batteries will be exempted from import duty. While no import duty will have to be paid on 28 products used in the production of mobile phones.
After Donald Trump was re -elected President in the US, he announced the recipe rocked from 2 April. In such a situation, there is a possibility of trade war all over the world. However, India has indicated exemption on import duty on US products. It is expected to discuss this extensively with a high -level delegation from America. In such a situation, this is considered an important step of the government to promote domestic production. & Nbsp;