Govt to ban import of machinery over 5 yrs old

Government has decided to ban imports of machinery that is more than five years old, a move which would help in increasing competitiveness of domestic manufacturers.
"Government has decided not to allow import of machinery more than five years old unless a different maximum age is specified by the Department of Commerce in consultation with concerned ministry/department and National Manufacturing Competitive Council (NMCC)," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
She said a meeting of the Committee of Secretaries (CoS) under the chairmanship of Cabinet Secretary was held regarding promotion of domestic capital goods industry. It also reviewed the import policy of used/second hand capital goods and machineries and their impact on the domestic capital goods industry.

Replying to a separate question on anti-dumping cases, Sitharaman said government has initiated anti-dumping probe into 309 cases between 1992 and November this year.
The major product categories on which the duty has been levied are chemicals, petrochemicals, pharmaceuticals, fibres/yarns, steel and consumer goods.
"The government has initiated anti-dumping investigations into 309 cases during 1992 till 30 November 2014," she said.
Dumping of goods is an unfair trade practice. The anti-dumping duty is a trade remedial measure permitted under WTO norms. Its objective of imposition is to create a level playing field for the domestic industry.
Replying to a question on dumping of electronic items, she said that the Directorate General of Anti-Dumping and Allied Duties has initiated 309 investigations against 46 countries.