Business Standard

Electronics imports from Asean countries dip after govt tightens rules

Domestic industry complained about the routing of China goods via Asean

Electronics
Premium

CBIC chairman had said initially that India’s trading partners had expressed some reservations about how they would pan out

Asit Ranjan MishraArup Roychoudhury New Delhi
The central government has noticed a dip in the import of certain electronic hardware items from India’s free trade agreement (FTA) partners, especially the Association of Southeast Asian Nations, after it mandated documents beyond the usual certificate of origin (COO) to claim preferential tariff benefits.

Following an amendment to India’s Customs Act in the 2020-21 Union Budget, the finance ministry had issued a notification under Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020), mandating documents beyond the usual COO to claim tariff benefits under FTAs.

“We were convinced that the FTA route was being misused. There are

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 22 2022 | 6:02 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com