Budget FY’25 update: Basic customs duty on silicon metal reduced to nil

The basic customs duty (BCD) on silicon metal (HS:28046900) has been reduced to nil from the previous 5% in India’s interim Budget for FY’25 placed in Lok Sabha today. This decision aims to lower import costs. In FY’24, India imported 84,000 t of silicon metal, with China being the primary source supplying approximately 70-80% of India’s imports.