India Inc. seeks customs duty revamp in Budget 2026
With the Union Budget coming up on February 1, Indian businesses are calling for a simpler, more efficient customs duty system.
They're hoping to shrink the current eight-tier structure down to five or six slabs and want a single-window clearance for imports and exports.
Faster approvals for trusted traders and clearer rules around customs checks are also high on their wishlist.
Why does it matter?
Right now, customs duties account for a relatively small share of tax revenue but cause lots of headaches—₹1.52 lakh crore is tied up in legal disputes because the system is so complicated.
Experts say fixing this could unlock funds and make things more predictable for investors.
Plus, if duties on raw materials are lowered and duties on finished goods are adjusted, it could give Indian manufacturing and exports a real boost—something stakeholders might want to watch closely.