India to Double Customs Duties on Trucks to Discourage Imports
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India will double customs duties on commercial vehicles including trucks to discourage imports.
The effective levy on imported commercial vehicles will be raised to 20 percent from 10 percent, according to the federal budget presented by Finance Minister Arun Jaitley to parliament today. Shares of Tata Motors Ltd. and Ashok Leyland Ltd., India’s biggest and second-biggest truck makers, rose in Mumbai.