India plans to increase import duties on more than 50 items, including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and elsewhere, officials and industry sources said.

Finance minister Nirmala Sitharaman may make the announcement when she presents her annual budget on February 1, along with other stimulus measures to revive economic growth, one of the government officials said.

Higher customs duties are likely to hit goods such as mobile phone chargers, industrial chemicals, lamps, wooden furniture, candles, jewellery and handicraft items, two government sources said.

The move could hit smartphone manufacturers that still import chargers or other components such as vibrator motors and ringers, along with retailers such as giant Ikea that is in the process of expanding its footprint in India.

Ikea had previously flagged higher Indian customs duties as a challenge.

The government had identified items and decided to increase import tariffs by 5-10 per cent as recommended by a panel of trade and finance ministry officials, the second government official said.

“Our aim is to curb imports of non-essential items,” said the official, adding a hike in import duties would provide a level-playing field for local manufacturers hit by cheap imports from China, Asean and other countries that enjoy trade pacts with India.