India announces customs duty exemption on 25 critical minerals
July 23, 2024
In the Union Budget 2024-25, India’s Finance Minister Nirmala Sitharaman announced a full customs duty exemption on 25 critical minerals, including key materials like nickel and blister copper. This move aims to reduce production costs for steel and copper. Additionally, the finance minister proposed a concessional basic customs duty (BCD) of 2.5% on copper scrap and maintained a zero BCD on ferrous scrap and nickel cathode.
(Source: Yieh Corp)
