Finance ministry waives customs duty on nuclear power imports
The Ministry of Finance has issued an order waiving customs duties on all goods imported for nuclear power generation. The exemption applies retrospectively to eligible imports made between April 1, 2019, and January 31, 2026, covering the period before the customs duty exemption announced in the Union Budget FY2026-27 came into effect.
The move is expected to reduce project costs for nuclear power developers and equipment suppliers involved in nuclear power generation projects.
Order details
The order, dated June 11, grants retrospective customs duty exemption on specified goods imported under designated customs tariff categories for nuclear power generation. The exemption covers a period of nearly seven years, from April 1, 2019, to January 31, 2026.
Budget measures
In the Union Budget for FY2026-27, presented in February, the government extended the customs duty exemption on imports for nuclear power projects until 2035.
The expansion of nuclear energy forms part of India’s long-term energy transition strategy. The government has set a target of achieving 100 GW of nuclear power capacity by 2047.
Market reaction
Shares of MTAR Technologies Limited (MTAR Tech), Walchandnagar Industries Limited, and Power Mech Projects Limited rose by up to 13% on June 12, a day after the ministry’s order became public.
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