Boosting India's Maritime and Export Sectors

Finance Minister Nirmala Sitharaman announced extensions in customs duty exemptions to foster ship building and boost trade. Additional initiatives include increasing duty on flat panels, promoting handicraft and leather exports, and provisioning fellowships for technological research in prestigious Indian institutions.

In a significant move for India's maritime and export sectors, Finance Minister Nirmala Sitharaman declared a continuation of customs duty exemptions on inputs needed for ship manufacturing for the next decade. This decision aims to enhance domestic shipbuilding and international trade.

During the 2025-26 Budget presentation, Sitharaman revealed plans to double the basic customs duty on interactive flat panel displays to 20 percent. This adjustment aligns with broader economic strategies aimed at local market growth.

A comprehensive plan to boost exports was also unveiled, including a new scheme for handicrafts and a full customs duty exemption on wet blue leather. Additionally, 10,000 fellowships will be available under the PM Research Fellowship scheme to support technological research at premier Indian institutes like IITs and IISs.