Ahead of the Union Budget on February 1, the government is considering changes to an “inverted duty structure” affecting 13 to 14 products. In some cases, taxes on inputs are higher than on finished goods, inflating costs for manufacturers and weakening competitiveness. The Commerce Ministry has flagged the issue to the Finance Ministry, urging reform to support local manufacturing.
India’s seafood exports to the US dropped sharply in FY26, with volume down 19.8% and value down 14.5%, blamed on reciprocal tariffs. Even so, India’s overall seafood exports reached a record $8.28 billion as demand grew in China, the EU, and Southeast Asia, helping offset the US decline.
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