New Delhi: With Finance Minister Nirmala Sitharaman announcing a major reduction in customs duty on cancer drugs and mobile phones, it is set to considerably bring down their prices in the market. The three cancer drugs are Trastuzumab deruxtecan, Osimertinib and Durvalumab.

The Finance Minister also announced a reduction of customs duty on mobile phones and mobile chargers to 15 per cent.

“The government will exempt three cancer treatment drugs from customs duty. I will also reduce basic customs duty on mobile phones, chargers and other mobile parts,” FM Sitharaman said presenting the Budget 2024.

Other products that are set to become cheaper include mobile phones, imported gold, silver, leather goods and seafood.

The reduction in duties on gold and silver by 6 per cent will significantly give a fillip to the retail demand.

FM Sitharaman also proposed a reduction in customs duties on platinum by 6.5 per cent and 5 per cent cut on seafood which includes shrimps and fish feed.