Union Budget 2026: Finance Minister Proposes 3% Duty-Free Import Limit for Seafood Processing Exports

0 min read Updated on 01 Feb 2026, 12:20 PM

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Radhika SScanX News Team

Overview

Union Budget 2026 includes Finance Minister's proposal to increase duty-free import limit for seafood processing exports to 3%. This measure aims to support the seafood processing industry by potentially reducing input costs and improving competitiveness in export markets.

*this image is generated using AI for illustrative purposes only.

The Finance Minister has announced a significant policy proposal in the Union Budget 2026 that aims to boost India's seafood processing sector. The proposal centers on increasing the duty-free import limit for seafood processing exports to 3%, marking a notable development for the industry.

Key Budget Proposal

The proposed measure focuses specifically on enhancing the operational framework for seafood processing companies engaged in export activities. By raising the duty-free import threshold to 3%, the government aims to provide greater flexibility to processors in sourcing raw materials and equipment necessary for their operations.

Industry Impact

This budget proposal is designed to support the seafood processing industry by potentially reducing input costs associated with imported materials required for processing operations. The measure could help improve the cost competitiveness of Indian seafood processors in international markets.

The announcement forms part of the broader Union Budget 2026 framework, reflecting the government's focus on supporting export-oriented industries through targeted policy interventions.

India to Allow Duty-Free Imports of Certain Leather Goods in Union Budget 2026

0 min read Updated on 01 Feb 2026, 12:20 PM

Reviewed by

Radhika SScanX News Team

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Overview

Finance Minister announces India will permit duty-free imports of certain leather goods under Union Budget 2026. This policy change marks a significant shift in trade approach for the leather sector, though specific product categories eligible for duty-free status were not detailed in the announcement.

*this image is generated using AI for illustrative purposes only.

The Finance Minister has announced a significant policy change regarding leather goods imports as part of the Union Budget 2026. India will permit duty-free imports of certain leather goods, marking a notable shift in the country's trade policy for this sector.

Policy Change Details

The announcement indicates that specific categories of leather goods will be eligible for duty-free import status. This development is part of the broader Union Budget 2026 framework, though the Finance Minister's statement did not specify which particular leather products will benefit from this policy change.

Trade Policy Implications

This move represents a departure from previous import duty structures for leather goods. The decision to allow duty-free imports suggests a strategic approach to trade policy in the leather sector, potentially affecting both domestic production dynamics and international trade relationships.

The announcement comes as part of the Union Budget 2026 presentations, indicating that this policy change is integrated into the government's broader economic and trade strategy for the upcoming period.