India removes tin import duty
India, a major importer and consumer of refined tin, has removed the import duty on tin.
ITA estimates India to be the sixth largest consumer of refined tin, importing a growing quantity—12,100 t in 2023, almost entirely from Indonesia—with no significant domestic production.
Alongside a range of other cuts to basic customs duty, the elimination of the refined tin import duty came into effect at the end of July having previously been 5% ad valorem. The import duty on tin ores and concentrates of 2.5% was also eliminated, however, ITA anticipates the significance of this to be much lesser with no primary smelting capacity in the country.
Both categories were noted as customs duties exemptions due to their criticality to strategic sectors such as energy, defence, telecommunications, and high-tech electronics.
India’s tin consumption has increased rapidly, doubling since 2009, driven largely by the growing demand for electronics, packaging steel, and tin chemicals. Although a slip in India’s tin consumption is anticipated for 2024, long-term growth in end-uses and the new preferential tax policy will likely encourage greater trade to meet the demand.
