Govt considering mandatory licensing regulations for unknown imports

Mandatory licensing norms may be put in place for vast segments of India’s imports that have not yet been properly categorised and remain immune to policy measures, according to sources.

Through the move, the commerce department plans to restrict imports costing an estimated Rs 4 trillion, primarily from China. Currently, thousands of import categories are labeled “others” in the official trade classification handbook. Many of these bring in goods worth Rs 100 crore or more. But, little data is available on what these are.

Apart from controlling runaway trade deficit, licensing will end spurious products from entering India, a senior official said.