EXIM protest against increase in import duty

Kolkata: West Bengal EXIM Association (Toy Traders Association) called a bandh on Saturday to protest against 200 per cent import duty hike in the Union Budget. A protest rally was also taken out from Canning Street Church that terminated at Custom House in the city.

"We are protesting with a token one-day shutdown today. 85 per cent of toys which are sold in India are imported from China and other countries. There are custom duties levied on imported toys. The Central Government fixes the rate of custom duties. Earlier, it was 20 per cent. Now, it has shot up to 60 per cent which means a 200 per cent hike. This hike has paralysed our toy business," Akshay Binjrajka, secretary of West Bengal EXIM Association.

It might be mentioned that the Centre, in the Union budget, had proposed raising the import duty on toys from 20 per cent to 60 per cent from the next fiscal, saying that the step would support the MSMEs and promote local manufacturing.

The toy industry since 2017, has been subject to a series of regulations and tariff increase. In September 2017, the government announced a change in standards for testing of toys in the country. This was followed by the doubling of the customs duty in 2018, from 10 per cent to 20 per cent. Again in December 2019, the net set of regulations were imposed.

"Union Finance minister Nirmala Sitharaman is coming to Kolkata. We are common people we can't meet her directly but we want to tell her through the media that 200 per cent import duty hike on toys should be rolled back," pointed out Akshay.

"Toys play a significant role in education and skill development of the children. There is no infrastructure to manufacture toys. We will die an unnatural death if the import duty hike continues," said Ikhlaque Ahmed owner of a toy shop.