19:25 01/02/2020
,World
India raises import taxes
India raised taxes on imports of goods such as electronic items, toys and furniture, aiming to give impetus to domestic manufacturing in a move that will hit Sweden’s IKEA and other foreign firms.
IKEA’s India CEO Peter Betzel said the company was disappointed with the increase. “We are further evaluating the impact of the hike on our total business,” he said. IKEA, which has committed more than 1.5 billion euros ($1.7 billion) in India investments, imports roughly 75% of goods sold in the country.
reuters.com
Newsfeed
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