Govt eases norms for moving used IT hardware out of duty-free SEZs
The Indian government has relaxed restrictions on the movement of used computers, monitors, and printers from special economic zones (SEZs) to domestic tariff areas (DTA) outside these duty-free enclaves. The Directorate General of Foreign Trade (DGFT) has amended the import policy for these products from restricted to free subject to conditions . Key Points
Economic TimesNo restrictions on tur, urad dal imports till March 2025: Govt
The Indian government has extended the free import policy for tur and urad dal until March 2025, aiming to boost domestic supply and maintain stable prices. The pulses will continue to fall under the free category, allowing unrestricted imports. This move aligns with the government's commitment to supporting the agricultural sector. Key Points
Economic TimesGovt extends zero import duty & agri-cess exemption on masur dal till March 2025
The Indian government has extended the zero import duty on masur dal (lentil) until March 2025 to maintain a stable supply and control domestic prices. The exemption, along with a 10% agri-infra cess, was set to expire in March 2024. The move aims to provide a clear signal to farmers in producing countries and encourage strategic planning for cultivation. Key Points
Economic TimesIndia extends import duty reduction for edible oils to March 2025
India has extended the lower import tax rates on edible oils, including crude palm oil, crude sunflower oil, and crude soyoil, until March 2025. The move aims to manage local prices and ensure a steady supply of essential commodities. India is the world's largest importer of vegetable oil, the report said Key Points
Economic TimesGovt makes it mandatory to register import of yellow peas under import monitoring system till March 2024
The government has mandated the registration of yellow peas imports under the import monitoring system until March 31, 2024, as part of an effort to enhance domestic availability of the commodity. This requirement will be followed by a restricted import policy and associated conditions from April 1, 2024, as stated by the Directorate General of Foreign Trade (DGFT). Key Points
Economic Times
India removes minimum import price for yellow peas
“Import of Yellow Peas… is “Free” subject to registration under the import Monitoring system with immediate effect for the period up to March 31, 2024,” the Directorate-General of Foreign Trade (DGFT) said in a notification. MIP condition and port restrictions shall also not apply ot such Yellow Peas imports till then. India imported $0.14 million worth yellow peas in FY23- all from Russia. Key Points
Economic TimesIndian carmakers up in arms against duty cuts on high-end EVs for Tesla & co
Indian automakers, including Tata Motors and Mahindra & Mahindra, voice concerns over potential import duty cuts for luxury electric vehicles like Tesla. The government explores options, considering a temporary reduction. Industry players fear adverse effects on existing investments and market positions. Key Points
Economic TimesWhat, why, when, how? US goes to WTO with basic questions over India’s laptop import restrictions
US submits list of questions on when India will notify WTO panel of import restriction decision. This isn’t the 1st time India’s trade decisions have been questioned at WTO this year. Key Points
ThePrintNew import management system still restricts import of laptops. Licence has now become ‘authorisation’
Govt had announced in August that imports of laptops, PCs, tablets etc would require a licence. This has now been tweaked, but these items remain in 'restricted' category. Key Points
ThePrintCentre clicks enter for online nod to IT hardware imports
The new system will come into force from November 1, but importers were allowed to apply for import authorisation from Thursday. There will be no restriction on quantity, value, country or origin. The Cantre will not reject any import requests and will use the data only for monitoring. Key Points
Economic Times
India launching new 'authorisation' system for import of laptops, tablets and personal computers
According to govt officials, the aim is to monitor shipments of such hardware without hurting market supply. The new system takes effect from 1 November. Key Points
ThePrintGovt issues notice on laptop, computer imports to the country
India plans to implement end-to-end digital authorization systems for select IT hardware imports, specifying quantity and value until September 2024. The government aims to streamline the import process, with the new rule allowing imports by authorized firms. Key Points
Economic TimesIT hardware companies seek clarity on import licensing process
The Indian IT hardware industry wants the government to provide clarity on operational details for import licenses so they are able to make contingency plans, senior executives have said. The current lack of clarity includes details around quota, validity of licence, whether there is demand for single or multiple licences for different ports, and whether exports and goods from special economic zones are exempt from needing the licence. Key Points
Economic TimesA breather before new import rules for laptops log in
New rules on import of laptops will be effective from November 1, the Directorate General of Foreign Trade (DGFT) said in an order tonight. import consignments can be cleared till October 31, without a licence for restricted imports. Key Points
The Tribune IndiaWhy govt banned imports of Laptops, computers? How will it help india? Here are all the answers
India has announced limitations on the import of laptops, tablets, and some types of computers with immediate effect on security grounds and to stimulate domestic manufacturing. The government's move may limit imports of these commodities from China and Korea. Companies must now get approval or a license for their inbound shipments. Key Points
Economic Times
Government delays licensing mandate for import of laptops and PCs by 3 months
Import consignments can be cleared till 31 October without a license for restricted imports. For clearance of import consignments with effect from 01.11.2023, a valid License for Restricted imports is required: Directorate General of Foreign Trade, Government of India Key Points
mintGovt defers implementation of restrictions on imports of laptops, PCs and tablets to Nov 1
India's Directorate General of Foreign Trade (DGFT) has announced that from November 1, 2023, it will restrict the import of laptops, computers, and their components without a license. After this set date, these electronics can only be imported with a valid license meant for restricted imports. India's electronics imports, including laptops and personal computers, accounted for $19.7 billion between April and June 2023. Key Points
Economic TimesGovt restricts imports of laptop, PCs, tablets
India's Directorate General of Foreign Trade has restricted the import of laptops, tablets, all-in-one PCs, ultra small form factor computers and servers. These items will only be allowed against valid licenses specific to restricted imports. DGFT's decision to restrict imports is expected to boost local manufacturing of these goods. Key Points
Economic TimesIndia imposes curbs on import of some laptops, tablets and computers
The Indian Directorate General of Foreign Trade (DGFT) has restricted imports of certain laptops and computers, along with tablets and all-in-one personal computers, with immediate effect. Such items can only be imported with a license for restricted imports, except where Baggage rules apply, or for research and development, testing, benchmarking and repair purposes, or where they are considered an essential part of Capital Good . Key Points
Economic TimesIndia allows potato imports from Bhutan sans license till June 2024
India imported fresh or chilled potatoes worth $1.02 million in 2022-23. In a separate notification, the DGFT said that the import of 17,000 metric tonnes of fresh (green) areca nut without a minimum import price (MIP) condition from Bhutan will also be allowed through LCS (land customs station) Chamurchi (INCHMB). Key Points
Economic Times
India bans apple imports, exempts Bhutan
“Import of apples…is Prohibited' wherever the CIF import Price is less than equal ot Rs 50/- per kilogram. Minimum import Price conditions shall not be applicable for imports from Bhutan,” DGFT said. Key Points
Economic TimesIndia’s delayed LNG terminals present hurdle to Modi’s gas goal
Two floating import terminals missed commissioning targets last year after LNG prices skyrocketed, reducing demand and disrupting import plans, Ayush Agarwal, analyst with S&P Global, said during a media roundtable Thursday. Neither plants are expected to start before 2025, he said. Key Points
Economic TimesBudget 2024: Gem and jewellery industry calls for reduction in import duties on gold, cut and polished dia
Union budget 2024: The Gem and Jewellery Export Promotion Council (GJEPC) has called on the Indian government to lower import duties on gold and cut and polished diamonds ahead of the Union Budget. The GJEPC believes that increased import taxes on polished and cut gemstones would lead to lower exports and fewer jobs in the jewellery sector, losing its competitive advantage to rival nations like China and Thailand. Key Points
Economic TimesTesla may head to India on incentive-paved road
India imposes 100% import duty on cars with cost, insurance and freight value of more than $40,000 (about Rs 33 lakh), and 60% for those below that threshold. Tesla is willing to invest up to $2 billion if the Indian government offers reduced import duty of 15% on imported electric cars in the first two years of operations, ET reported in December. Key Points
Economic TimesAfter House panel's push, govt opens doors for used diagnostic devices
The union environment ministry has made the decision in consultation with the health ministry after inter-ministerial deliberations of more than a year. Allowing import of 'high-end and high-value medical equipment', not just by actual users and original equipment manufacturers but also by third-party traders, is expected to considerably open up the Indian market for these devices. Key Points
Economic Times
Govt not considering cut in import duty on rubber: Official
The government maintains the differential between local and international prices, and is not considering any cut in import duty on rubber. The duty on import of dry rubber was increased, and port entry for import of natural rubber has been restricted. Key Points
Economic Timesimport licensing issue: Govt says it has ways to check rise in laptop, PC, tablet prices
The govt says it does not see prices rising because the number of units imported into the country will not be capped. Besides, clearances will be issued in a matter of minutes, officials claim. Key Points
Economic TimesOffshores online gaming companies: ED raids 25 locations, remittance to the tune of Rs 4,000 crore under s
Remittance to the tune of Rs. 4000 crore allegedly made in the guise of payments for import of goods and services is under scanner. Rs. 19.55 lacs in cash, US$2695 and 55 bank accounts of firms being used for layering and remitting income generated from online gaming in the guise of remittances against import of goods and services have also been frozen, the agency said in a statement on Tuesday. Key Points
Economic TimesParam Desai’s 4 top picks in largecap and midcap pharma
“We believe that Ciplas Pithampur facility was inspected in February and post that, they got an OAI in August and post that, it has escalated to a warning letter. We believe that it is unlikely that this will escalate further to import alerts, though this may take some time to resolve.” Key Points
Economic Times44 IT hardware companies log in for PLI sops
IT hardware companies have been told about the licensing portal where it takes five to 10 minutes to get approval for an import licence, this official said. “The regulations being imposed are from a security point of view, and these regulations will not create any disruption anywhere,” the official said. Key Points
Economic Times
How will lower import tax duties for Tesla EVs impact Indian car makers?
The Indian government is considering a new electric vehicle (EV) policy that would reduce import taxes for car companies, potentially allowing high-end EV manufacturers like Tesla to enter the Indian market. Under the policy, carmakers committed to local manufacturing would receive a substantial tax cut. Presently, cars priced above $40,000 face a 100% import tax, but the new policy could lower the tax rate to as low as 15%. This move could benefit Tesla and other luxury car manufacturers, but may pose challenges for local mass-market car manufacturers. Key Points
Economic TimesIndia authorises Apple, Dell, Lenovo and others to import laptops, tablets -sources
Apple (AAPL.O), Dell (DELL.N), HP (HPE.N), Samsung (005930.KS) and Lenovo (0992.HK) are among 110 firms authorised by India to import laptops, tablets and personal computers under a new system aimed at monitoring shipments, two government sources said. Key Points
ReutersGovernment eases laptop, tablet import curbs: Report
This move is expected to provide manufacturers such as Apple Inc., HP Inc., and Dell Technologies Inc. with additional time to prepare for potential limitations. Key Points
India TodayCrude import bill drops 16% but dependency hits new high
India’s crude oil import dropped 16 per cent in the last fiscal on lower international rates but the dependency on overseas suppliers rose to a... Key Points
The Tribune IndiaCentre increased import duty on gold and silver coins to 15%
The government has increased import duties on gold and silver finding and coins to 15%, including basic custom duty and ADIC. The new rates will be effective January 22. The government also increased import duties on silver dore, bars, and articles to align with gold and platinum import duties. Key Points
Economic Times
India's coal import rises 4% in September
India Business News: India's coal import rose by 4.3% in September compared to the same month of the previous fiscal year, reaching 20.61 million tonnes. Non-coking coal i Key Points
Times Of IndiaNo ban on imports, companies can import laptops, tablets, etc: Senior official
There is no ban on imports. Companies and traders can import IT hardware, laptops, tablets, etc. said a senior official at the IT ministry, a day after the ministry notified import curbs Key Points
mintRestrictions, PLI, mandatory quality norms help cut import of certain non-essential goods
Various steps such as inbound shipments of certain goods, production-linked incentive scheme and mandatory quality norms have helped in reducing import of non-essential products. To cut imports, the government has increased customs duty on gold, imposed curbs on inbound shipments of television, levied minimum import price on some goods, introduced National Food Security Mission (Oilseeds and Oil Palm) Scheme, and blending of ethanol in oil. Key Points
Economic TimesCentre exempts gold import by RBI from customs duty, agri cess
The Centre exempted gold imported by the Reserve Bank of India from import duty and Agriculture Infrastructure Development Cess. India, the second-biggest consumer of gold, depends on imports. Cumulative gold imports reached $37.85 billion from April-January in FY24, with imports in January alone standing at $1.9 billion. Key Points
Economic TimesView: India’s PC import restrictions smell like desperation
India's decision to impose restrictions on the import of computers and tablets now appears to be more like bureaucratic desperation than a solid industrial policy. Businesses will require an import license to bring items like laptops into the country. The governments attempt to push back the implementation only adds to the sense that New Delhi is making things up as it goes along. Key Points
Economic Times
No loss to country on removal of US retaliatory tariffs: Govt tells Parliament
India has removed retaliatory customs duties on eight US products. Among these were almonds, walnuts, and chickpeas as the country looks to resolve its trade disputes with the US. Retaliatory charges had been imposed on 28 US products in response to America's decision to levy extra import taxes on certain steel and aluminium products. The most-favoured nation tariff rates now apply to all countries. Key Points
Economic TimesGovt restricts imports of some gold jewellery, articles
The government on Wednesday imposed restrictions on imports of certain gold jewellery and articles. In a notification, the directorate general of foreign trade (DGFT) amended the import policy for unstudded jewellery made of gold, and other articles made of gold to “restricted” from “free”. Key Points
Economic TimesGovt permits import of pet coke as raw material for lithium-ion batteries
The DGFT, however, said that the sulphur content in the NPC should be less than 0.8 per cent, which would be monitored by state pollution control boards. It also said that the import of low-sulphur pet coke is restricted, and its imports are subject to authorisation from the directorate for use in integrated steel plants only for blending with the coking coal in recovery-type coke ovens equipped with desulphurisation plants. Key Points
Economic TimesGovt imposes import curbs on parts of pocket lighters; to reduce dependence on China
The government has restricted the import of parts for pocket lighters to boost domestic manufacturing and reduce dependency on Chinese imports. This follows previous bans on low-cost and specific types of lighters, along with quality control measures. The import value of lighter parts from China was $3.8 million during April-July this fiscal. Key Points
Economic TimesNow, Elon Musk-led Tesla’s rival VinFast wants India to reduce import duties on its electric cars
India Business News: VinFast, the Vietnamese electric vehicle maker, has requested that India reduce import duties on its cars for a temporary period of two years. VinFast aims to cater to the domestic market and expand exports. Read more. Key Points
Times Of India
Govt slashes import duty on mobile parts
The Indian government has cut import taxes on some components of mobile phones in a bid to make the local industry more competitive. The move will help the likes of Apple and Samsung to ramp up exports, according to exports. The India Cellular and Electronics Association (ICEA) had earlier submitted a report comparing import duties among India, China, Vietnam and other countries, where they flagged a steep cost disability due to high tariffs on input parts. Key Points
Economic Times