Budget 2026: India to Hike Import Duties, Boost Local Production on 100+ Products

• Budget 2026 to unveil a dual strategy: increased customs duties on imports and incentives for domestic manufacturing.
• Over 100 products, from engineering goods to consumer items, are targeted to reduce import dependency.
• The move aims to address India's growing trade deficit, especially with countries like China, and de-risk supply chains.
• Government seeks to make imports more expensive and domestic production more profitable to foster self-reliance.
• Industry acknowledges the need but highlights challenges in domestic quality, scale, and cost compared to imports.

Why It Matters: Budget 2026 to implement a 'carrot and stick' approach to boost domestic manufacturing and curb imports.