10 listed firms that will see greatest impact of FM's customs duty tweaks

While some importers might have to absorb costs to protect their market share, other indigenous manufacturers should benefit

In a move aimed at encouraging domestic manufacturing, Finance Minister Nirmala Sitharaman proposed a number of customs duty changes in her Union Budget for 2020-21, presented earlier this month. Household goods and appliances, electrical appliances, footwear, furniture, stationery items, toys and machinery were some categories of goods that saw an increase in customs duty.

The move broadly aims to boost domestic manufacturing, but some players that procure goods or components from their offshore locations or depend on cheap component imports from China and other destinations will take a hit. Even as companies that do local sourcing of goods stand to