Union Budget 2026 | India lowers import barriers, custom duty to counter Trump’s tariffs

New Delhi, 1/2: Union Finance Minister Nirmala Sitharaman on Sunday announced a series of customs duty-related restructuring, including cutting taxes on all dutiable goods imported for personal use from 20 per cent to 10 per cent and allowing duty-free imports of raw material.

In the Union Budget 2026-27, Sitharaman also announced to extend the existing basic customs duty exemption on imports of goods required for nuclear power projects till 2035 and expand it for all nuclear plants irrespective of their capacity.