Tariff on most chemicals and plastics reduced from 12.5 to 7.5 percent.

Tariff on coking coal reduced from 5 percent to zero.

Tariff on boric acid reduced from 10 to 5 percent, though a non-tariff barrier continues to preclude imports from U.S. Borax.

Tariff on cut and polished diamonds reduced from 5 to 3 percent.

Tariff on food processing equipment reduced from 7.5 to 5 percent.

Tariff on polyester fibers and yarns reduced from 10 to 7.5 percent.

Concessional 5 percent tariff extended to 15 additional pharma and biotech products when imported by qualified importers for R&D purposes.

Excise tax exempted from membrane-based water purification devices

Service tax exempted from clinical trials of new drugs.

Telecom Department to study simplified, single fee to replace current system of multiple charges on telecom services.

Agreement reached between Central and State Government to phase out the central sales tax (CST). CST to be reduced to 3 percent. CST became redundant when a state-level VAT tax was introduced two years ago.

Agreement reached between Central Government and State Finance Ministers and to prepare road map for implementing a national goods and services tax in 2010. This could provide clarity to the current complicated web of indirect taxes. (Note: Implementation of the state-level VAT was over five years late.)