Tariff rationalization to resolve inverted duty problems is a must
By ANINDITH REDDY
Managing Director & Co-founder, Enliva.
The first comprehensive budget of the Modi 3.0 government needs to have a clear stance for the country’s manufacturing industry.
Tariff rationalization to resolve inverted duty problems as well as the expansion of the PLI scheme must occur, so the import dependence is lowered, domestic fabrication expands, and the supply and demand imbalance is balanced.
Getting more manufacturers who focus on domestic value addition and labour is also a very important step. Setting up an easier application process with performance criteria targets and support for the MSME will ensure many more stake holders are involved in the manufacturing environment.
To protect the Indian glove industry, the government needs to control the import of low-grade chlorinated gloves, which increased by more than half from July to August 2024, reaching 460 million.
These imports mainly come from Malaysia, Thailand, Vietnam, and China. The increase in these imports poses a safety concern as well as affects the ‘Make in India’ campaign.
Strengthening the glove R&D with a strong focus on quality will be required to ensure the strength of the industry.
