Printers, cameras, hard disks are reportedly next in line to come under the import restrictions laid out by the government.
The Centre has recently slapped a ban on imports of laptops, tablets and certain types of computers to restrict inbound shipments from countries such as China and Korea.
The local demand for these high-import products is huge and their imports need immediate intervention to push local manufacturing, the Economic Times reported on August 11, citing people with knowledge of the matter.
Moneycontrol couldn't verify the report independently.
In FY23, the imports of these items crossed $10.08 billion. India’s total merchandise imports went up by 16.5 percent in FY23 to $714 billion, raising the country’s current account deficit (CAD) to 2 percent of GDP in FY23 from 1.2 percent of GDP last fiscal.
Also Read: Govt stays implementation of laptop, PC import curbs till October 31
This website earlier reported that Manufacturers' Association for Information Technology (MAIT) which includes top laptop, personal computer (PC) and server makers such as Dell, HP, Apple, Lenovo and Asus, sought an extension of at least six months for the implementation of new import restriction rules.
Reports said that top executives of tech giants met senior ministry of electronics and information technology (MeitY) officials last week. They told the government that companies needed time to set up manufacturing units in India.
Plus, the government is planning to examine other heavy-import products such as urea, antibiotics, turbo jets, refined copper, aluminium scrap, sunflower seed oil, and cashew nuts, the financial daily mentioned.
Also Read: Laptop, PC import restrictions will lead to near-term price hikes, industry disruption, say experts
The Centre is keeping a close eye on shipments of the 250 items covered by the Information Technology Agreement-1 or ITA-1 on which India can’t impose import duties. “The focus is on those end-products in the ITA-1 whose bulk imports are a cause for concern,” the daily quoted an official as saying without being identified.
The import restrictions on laptops, tablets and other computing devices are aimed at ensuring a trusted supply chain for India’s fast-growing digital economy, Union Minister Rajeev Chandrasekhar told Moneycontrol in an interview on August 10.
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