India reduces duties on leather machinery by 2.5% - leatherbiz: Leadin Leatherbiz

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India reduces duties on leather machinery by 2.5%

28/02/2013
The Indian government has reduced excise duties on machinery for the manufacture of leathergoods, including footwear, from 7.5% to 5%.

Finance minister P Chidambaram made the announcement during his 2013-14 budget speech in New Delhi today.

The Federation of Indian Export Organisations director general Ajai Sahai said this will increase competitiveness, as well as create jobs.

Mr Chidambaram said: "I look forward to the changes that will be made to the Foreign Trade Policy next month and I assure my support to measures that will be taken to boost exports of goods and services."



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