The government has proposed a major overhaul of import policy by reducing or withdrawing long-imposed regulatory duties (RD) on more than 20 products in the 2026-27 fiscal year budget.
The 3 per cent regulatory duty has been proposed for withdrawal on a wide range of items, including all types of dates, spices, live chickens, ostriches and emus, various sea fish, shellfish, carbon electrodes, photographic paper, cinematographic film, drones, yachts, musical instruments, artwork, coffins, and components of electric lamps.
In a significant move, the 30 per cent RD imposed on the Completely Knocked Down (CKD) import of certain motor vehicles has been reduced to just 5 per cent.
Officials say regulatory duties are traditionally used to discourage imports. However, the government is gradually moving towards reducing these additional levies to align with World Trade Organization (WTO) guidelines and facilitate smoother trade.
