India’s Union Budget 2026-27, presented by Finance Minister Nirmala Sitharaman, features customs duty rationalizations to boost domestic manufacturing while adjusting prices for consumers. Key changes make essentials and locally produced goods more affordable but raise costs for luxury imports and select items.
Items Getting Cheaper
Made-in-India mobile phones and tablets benefit from reduced duties on components like camera modules and display panels, lowering retail prices. EV batteries (Li-ion cells) and solar panels see basic customs duty exemptions, cutting costs for electric vehicles and renewable energy setups. Microwave ovens, life-saving drugs (17 cancer medicines), and personal imports (duty from 20% to 10%) also become more affordable.
Items Getting Costlier
High-end laptops, imported luxury watches, and premium electronics face higher tariffs to protect local makers, with potential 30% price hikes. Alcohol, tobacco, cigarettes, and derivatives trading incur higher excise, NCCD, or STT (0.05% on futures, 0.15% on options). Smart TVs may rise 3-10% due to global chip shortages.
