India, Feb. 1 -- In a move believed to bring relief for processed seafood, leather and synthetic footwear exporters in India, the Union Budget 2026-27 proposes easing customs duties on imports of certain inputs needed for these products. Announcing the measure in her Budget speech on February 1, Finance Minister Nirmala Sitharaman said the move is part of the Union government's effort to simplify the tariff structure, support domestic manufacturing and improve export competitiveness.

For the leather and synthetic footwear sector, the Budget proposes extending duty-free imports of specified inputs, currently available for exports of finished leather or synthetic footwear, to exports of shoe uppers (all components of a shoe that are above ...