Supply Chain Research

The Indian government’s 2021 budget includes a range of import tariff changes designed to bolster domestic manufacturing. A surge in raw material prices has led the government to cut duties on imports of nylon, naptha and a wide range of steel products among others. Indian imports of steel products covered by the tariff reductions dropped by 49.4% year over year in the three months to Oct. 31, with shipments linked to POSCO and Hyundai Steel down by 55.2% and 42.1% respectively. Automaker Suzuki, partnered with Maruti, has seen a slide of 79.5% reflecting weaker autos demand as well as i...