The Indian government has slashed import duties on major edible oils in an effort to mitigate rising domestic prices. According to reports from The Business Standard, vegetable oil costs in the country have climbed by approximately 20% over the last year. This policy adjustment is aimed at easing the inflationary pressure on consumers.
Economy
India reduces import duties on edible oils to curb price hikes
To address a 20% surge in vegetable oil prices over the past year, India has decided to lower import duties on major edible oils.
Source: The Business Standard