<h1>Finance Minister defends India against tariff king allegations citing lower effective rates than statutory levels</h1> India's Finance Minister defended the country against allegations of being a 'tariff king,' stating that effective tariff rates are significantly lower than statutory levels. The 2025-26 Budget reduced tariff rates to eight categories, including zero rate, down from previous levels through systematic reforms. India's average customs duty decreased to 10.66 percent from 11.65 percent, aligning closer to Southeast Asian countries' levels. The Minister emphasized that parliamentary approval allows maximum tariff levels, but actual implementation remains substantially lower. These reforms aim to boost domestic manufacturing, promote exports, and facilitate trade while reducing regulatory burden on businesses.