NEW DELHI: As the Centre's 'Self-reliant India' programme gathers steam, certain high volume import products, especially coming in from China, may attract steeper tariffs in the coming days, sources said.
Even though the expected move is not country-specific, the tariff imposition or hike will have a major impact on imports from China.
At present, China has a trade surplus with India and is predominant in certain products such as toys.
In fact, just this week, the Directorate General of Trade Remedies completed two anti-dumping investigation concerning products that are predominantly sourced from China amongst other places.
Overall, the two countries' bilateral trade is around $85 billion per annum which is heavily tilted in China's favour.
Nonetheless, India's trade deficit with China has declined from $63.1 billion in FY18 to $53.6 billion in FY19 and is estimated to be further lower in FY20, partly due to imposition of anti-dumping duty in sectors like steel. Incidentally, the recent stand-off between the Asian giants in the Himalayas has also triggered an anti-Chinese sentiment in India, especially focused around the cheap products from that country.
Accordingly, these tariffs might have different range and scope such as imposition of countervailing and anti-dumping duty or a basics custom duty hike.
Several products such as printing paper, toys, toners, AC compressors, general use electrical wires and switches are amongst the few items which have been zeroed upon, sources said.
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