Waiver of import duty on ‘Warmblood’ breed horses will improve the level of equestrian sport: EFI

Equestrian Federation of India (EFI) general secretary Colonel Jaiveer Singh says that the government’s decision to abolish import duty on ‘warmblood’ horses will enable the country’s athletes to buy better horses at a reasonable price, which will help improve the level of the sport. . Horses of the ‘Warmblood’ breed are mainly in Europe and are well suited to do well in equestrian sports such as dressage, show jumping and eventing, while the Indian breeds of ‘Kathiawadi’ are much inferior to them.

Singh told PTI, “Indian breed horses are called ‘Kathiawadi’ but considering their height and temperament, they are not so suited for equestrian sport.” In horse riding, the horse is as important to the rider as the rifle to a marksman and the racket to a tennis player. The price of ‘Warmblood’ starts at Rs 40 lakh and its import attracts a base customs duty of 30 per cent, Integrated Goods and Services Tax (IGST) of 12 per cent and social welfare surcharge of 10 per cent.

With this, the horse costing Rs 40 lakh would actually cost Rs 61 lakh and if the transportation cost is also added, it would be close to Rs 1 crore. According to Singh, with this discount, the cost of the horse will now be reduced by 52 percent. The EFI has been calling for the import duty on ‘warmblood’ horses to be removed from 2020 and on Wednesday the government announced it would be waived from 2 February 2023. However, this exemption has been approved for five years in the annual budget.

Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.