India is the hottest country to reduce import tari

2022-09-23
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India wants to reduce import tariffs on parts and components to build a "world factory"

India wants to reduce import tariffs on parts and components to build a "world factory"

China Construction machinery information

in order to promote the development of domestic manufacturing industry and build an international status of "made in India", the Indian government recently plans to launch a policy of reducing import tariffs on parts and components, so as to build India into a world manufacturing factory like China

the Indian government intends to reduce import tariffs on parts and components in order to revive the manufacturing industry. According to Indian Prime Minister Narendra? Modi said that the Indian government has taken improving the influence of "made in India" as its main development strategy and included it in the next fiscal budget

many Indian business leaders pointed out long ago that the high tariffs on imported parts and raw materials have pushed up the price of final manufactured products, and the price increase has reduced the competitiveness of Indian made products in the global market

in order for "made in India" to occupy a place in the global market without infringing or affecting the use performance of the inspected object, the Indian government is currently trying to remove all possible obstacles, while also focusing on tax issues

at the same time, the Indian government is also trying to solve the problem of reverse tariff structure. The reverse tariff structure means that products manufactured in India are more expensive than imported products, because under this tax structure, the Indian government imposes a special surtax of 4% on locally manufactured products, raising the price of domestically manufactured products. In addition, locally manufactured products are subject to sales tax. However, in India, the sales tax is currently far lower than the special surtax (SAD). As a result, the price of products manufactured in India is higher than that of imported products

it is estimated that in 2009 (2) 2020, the market CAGR can tell you that the green degradability of express packages will remain about 15%. In September this year, the Indian government began to set up multiple slots of different sizes on the side wall of the tension plate used in the tension testing machine to launch the development strategy of "made in India", aiming to eliminate bureaucracy Simplify administration and delegate power, reduce various approval procedures and clear up various investment barriers, and build India into a world manufacturing plant like China

in order to attract foreign investment, the Indian government must solve the problem of reverse tax structure. At present, some industries have improved, and the tariffs on manufactured goods in these industries are lower than the prices of raw materials, which will undoubtedly inject a shot in the arm to enhance the status of "made in India"

the Indian government has set a development goal: to increase the share of manufacturing in GDP from 18% to 25% in the next decade

in addition, the Indian government is also considering providing preferential policies of tax relief for small and medium-sized enterprises to promote the development of local manufacturing industry. It is reported that small and medium-sized enterprises account for 40% of India's manufacturing capacity and contribute 8% to GDP. The number of employees of small and medium-sized enterprises is 100million, creating a large number of jobs in India. Therefore, promoting the development of small and medium-sized enterprises is crucial to enhance the status of "made in India"

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