India to Slash Import Duties: The towering...
India to Slash Import Duties: The towering duties have kept foreign consumer goods out of the world’s second-most populous country for decades, Finance Minister Manmohan Singh told members of a customs advisory panel. “The time has now come to tell the industry that the government cannot afford to provide a high level of protection to Indian industry, particularly in the consumer-goods sector,” he said. Singh engineered a three-year market-opening program that has cut duties on many capital goods and raw materials used by manufacturers.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.