Ship Building Duty Exemption Extended for 10 Years

New Delhi, Feb 1 (PTI) Finance Minister Nirmala Sitharaman on Saturday announced continuation of customs duty exemption on inputs and components used for manufacturing of ships for another 10 years.

The announcement assumes significance as the country is looking to promote domestic ship building to boost international trade.

Presenting the Budget for 2025-26, she also announced doubling of basic customs duty on interactive flat panel display to 20 per cent.

Sitharaman also announced a scheme to promote handicraft exports.

To promote leather exports, she announced full exemption of customs duty on wet blue leather.

She proposed 10,000 fellowships under PM Research Fellowship scheme in the next five years for technological research in IITs and IISs.