September 24, 2018 / 9:29 AM / 3 months ago

India likely to raise import curbs on various items, gold to be spared- govt source

NEW DELHI, Sept 24 (Reuters) - India is likely to impose higher import duties on precious stones, certain types of steel and electronics but will spare gold to prevent smuggling, a finance ministry official told reporters on Monday.

The official, who didn’t want to be named, said the main reason for the planned increase in duties was to restrict the inflow of items displaced by an escalating U.S.-China trade tensions. The government is also trying to curb imports of “non-essential” items to support the rupee. (Reporting by Krishna N. Das; Editing by Sanjeev Miglani)

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