Toy importers go on strike after Union Budget imposes 200% duty hike

More than a one lakh retailers across the country will be hit by 200 per cent import duty hike, toy importers, who went on strike on Saturday, said.
 

The Centre, in the Union budget, has proposed raising the import duty on toys from 20 per cent to 60 per cent from the next fiscal, saying that the step would support the MSMEs and promote local manufacturing.

Protesting the move, the toy wholesalers of the city went on a one-day strike, contending that the import duty hike will result in the closure of businesses and a spur in unemployment.

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