📷 Image: Wikimedia Commons / Balon Greyjoy
Business
MHI Urges Finance Ministry to Impose 400% Import Duty on Truck Tractors
✍️ Business Standard
🗓 03 Aug 2026, 06:52 AM
👁 1
MHI has requested the Indian finance ministry to increase the import duty on truck tractors to 400%, a move aimed at protecting domestic manufacturers.
MHI has formally approached the finance ministry with a proposal to quadruple the import duty on truck tractors, citing concerns over the influx of cheaper imported units.
The company argues that the current duty of 100% is insufficient to level the playing field for domestic producers, who face stiff competition from foreign manufacturers.
The finance ministry has yet to respond, but industry analysts warn that a 400% duty could significantly raise costs for importers and potentially lead to higher prices for end users.
MHI also highlighted that the higher tariff would encourage investment in local manufacturing and support the government's push for self‑reliance in heavy vehicle production.
The company argues that the current duty of 100% is insufficient to level the playing field for domestic producers, who face stiff competition from foreign manufacturers.
The finance ministry has yet to respond, but industry analysts warn that a 400% duty could significantly raise costs for importers and potentially lead to higher prices for end users.
MHI also highlighted that the higher tariff would encourage investment in local manufacturing and support the government's push for self‑reliance in heavy vehicle production.