India cuts export tax on raw hides, skins of buffalo

India slashed its export tax on raw hides and skins of buffalo to 30% from 40% earlier, Finance Minister Nirmala Sitharaman said on Tuesday.

The South Asian country is the world's biggest exporter of buffalo meat and industry officials have been requesting New Delhi to abolish the export tax.

"Exports are unlikely to pick up even after the reduction as the 30% tax makes us uncompetitive amount. The government should remove all taxes on the exports," said Fauzan Alavi, vice president at the All India Meat & Livestock Exporters Association.


There is good demand for Indian buffalo skins from Thailand, Indonesia, Malaysia and Vietnam, but the export duty makes India uncompetitive, Alavi said.