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India plans customs reforms to boost transparency and growth, aiming for 7%+ GDP expansion despite a weak rupee.
India’s Finance Minister Nirmala Sitharaman announced that simplifying customs procedures will be the next major reform ahead of the 2026 Budget, aiming to boost transparency, reduce complexity, and rationalize duties.
She highlighted progress in lowering tariffs—reducing the number of customs duty slabs to eight, including a zero rate—and pledged further cuts on high-rate items.
The reforms, inspired by recent tax overhauls, seek to minimize human discretion through technology and faceless processes.
Despite the rupee hitting a record low of 90.21 against the dollar due to foreign outflows and oil prices, Sitharaman expressed confidence in its stabilization and projected 7% or higher GDP growth for the fiscal year, driven by strong factory and services output.
India planea reformas aduaneras para impulsar la transparencia y el crecimiento, con el objetivo de una expansión del PIB de más del 7% a pesar de la debilidad de la rupia.