Page 3 - Imports

Capital goods sector rebounds in FY24, import reliance persists: Eco Survey

The survey also states that the government has acknowledged these challenges and taken steps to address them

MedTech industry divided over move to stop imports of refurbished devices

Domestic manufacturers added that the order will also stop the unregulated influx of second hand medical devices which could have been detrimental to the patient safety in India

Mexico's Sheinbaum plans to cut Chinese imports in apparent nod to Trump

Sheinbaum also used her speech to defend the US-Mexico-Canada (USMCA) trade pact, which she said was the only way to compete with China

China's exports fall, imports decline in November falling below forecasts

China's exports slowed in November and its imports declined, falling below forecasts and underscoring potential weakness in trade at a time when its leaders are striving to boost the economy after the shocks of the COVID-19 pandemic. Customs data Tuesday showed exports grew 6.7 per cent from a year earlier, down from a 12.7 per cent increase in October. Analysts had estimated that exports had risen more than 8 per cent. Imports fell 3.9 per cent from a year earlier, reflecting weak demand from industries and consumers. With exports outpacing imports, China's trade surplus rose to USD 97.4 billion. The report came a day after Beijing pledged to loosen monetary policy and provide more support for the world's No. 2 economy. US President-elect Donald Trump has threatened to slap tariffs of 60% or more on imports of Chinese goods, complicating Beijing's efforts by threatening an area of the economy that has performed relatively well while the property sector remains in the doldrums and

Govt scraps registration for some items under chip import monitoring system

The government has removed mandatory registration of certain electronic integrated circuits under the chip import monitoring system. Under the system, importers of these items would have to provide advance information in an online system for import and obtain a registration number by paying a specific amount of registration fee. "The requirement of compulsory registration under chip imports monitoring system has been discontinued with immediate effect," according to a notification of the directorate general of foreign trade (DGFT). The items included electronic integrated circuits, memories and amplifiers.

New guidelines on laptop import policy still under deliberation: Goyal

Union Minister Piyush Goyal on Thursday said the new guidelines on India's laptop import policy are still under deliberation by the Ministry of Electronics and Information Technology. Asked about the import authorisation system for IT hardware products and what kind of guidelines the government is looking at, Goyal said, "I think, this is still under deliberation. It is handled by the Ministry of Electronics and Information Technology. I am not privy to what is in their mind for the future". It is pertinent to mention here that in September this year, the government extended the approval system for the import of certain IT hardware products, including laptops and tablets, for three months till December 31. These imports stood at USD 8.4 billion in 2023-24 against the authorisation of about USD 9.5 billion. Most of these imports were coming from China. "It is clarified that the importers are allowed to apply for import authorisations, which will be valid up to December 31, 2024. ...

Paper & paperboard imports rise by 3.5% to 992,000 tonnes in Apr-Sep FY25

Paper and paperboard imports rose by 3.5 per cent to 992,000 tonnes in the April-September period of 2024-25, driven by a sharp rise in shipments from China, according to Indian Paper Manufacturers Association (IPMA). Imports of paper and paperboard from China rose by 44 per cent during the first half of the ongoing fiscal year despite adequate production capacities in the country, the IPMA said in a statement. Imports of these products had surged by 34 per cent to 19.3 lakh tonnes in 2023-24 due to higher shipments from ASEAN countries, the association said citing the commerce ministry data. "After some moderation during the two Covid years, paper imports in India have continued to surge, hurting the growth of the domestic manufacturing industry, which is reeling under low-capacity utilisation and depressed bottom lines", said IPMA President Pawan Agarwal. The situation is extremely critical for domestic manufacturers of virgin fibre paperboard in view of burgeoning imports from .

Imports from UAE surges 70% in October to $7.2 billion, shows data

India's imports from its free trade agreement partner UAE have jumped by 70.37 per cent year-on-year to USD 7.2 billion in October, leaving a trade deficit of about USD 3.5 billion during that month, according to the commerce ministry data. The deficit, the difference between imports and exports, was USD 2.47 billion in September. Cumulatively also, the imports from the UAE during April-October rose by 55.12 per cent to USD 38.64 billion against USD 24.91 billion in the same period previous fiscal, while exports were up by 15.86 per cent year-on-year to USD 20.93 billion compared to USD 18 billion in April-October 2023-24. The trade deficit during the seven-month period has widened to USD 17.71 billion from USD 6.85 billion in the same period a year ago. The FTA between India and the UAE came into effect in May 2022. According to the data, India's imports from UAE rose by 49.22 per cent to USD 5.38 billion in September and 72.7 per cent to USD 6.38 billion in August. Exports, on

India to reduce laptop imports 5% annually from 2025, boost local output

India mulls 5% annual cut in import limits on laptops, tablets, and PCs from 2025 to boost domestic manufacturing under the Production-Linked Incentive (PLI) scheme, with free imports extended till De

How India is pursuing self-sufficiency in the semicon chip value chain

Many countries are vying to build resilient semiconductor supply chains amid rising chip import prices

India remains highly dependent on imports of critical minerals, says report

India remains highly dependent on imports for minerals critical to accelerating its energy transition, with a full reliance on shipping in lithium, cobalt and nickel, according to a report released Monday. The report, published by the Institute for Energy Economics and Financial Analysis (IEEFA), said that India's demand for critical minerals is expected to more than double by 2030, while domestic mining operations may take over a decade to start producing. It stresses that India needs a carefully crafted import strategy to mitigate potential trade risks while balancing international relationships to secure these essential minerals. IEEFA's report examines five critical minerals (and their compounds) cobalt, copper, graphite, lithium and nickel from the perspectives of import dependency, trade dynamics, domestic availability, and global price fluctuations. The findings show that India remains largely import-dependent for these minerals and their compounds, with 100 per cent impor

India recalibrates FTA strategy amid past challenges and rising imports

Standard operating procedure will take into account strategy towards modern FTA issues such as environment, labour, and digital trade

Meeting 2030 target may push India's solar imports to $30 bn per yr: GTRI

The country's target of installing 500 GW of renewable energy by 2030 may push solar equipment import bill to about USD 30 billion per year and increase dependence on Chinese goods, think tank GTRI said in a report on Sunday. It said developing a self-reliant solar manufacturing industry in India will require significant investment to create an integrated supply chain, especially in areas like polysilicon and wafer production. Without this, India may continue to face high import costs and struggle to meet its renewable energy goals. India installed 15 GW of solar capacity in 2023-24, raising the total to 90.8 GW by September, compared to just 2.8 GW in 2014, it said. To meet the government's target of installing 500 GW of renewable energy by 2030, India needs to significantly ramp up installations to 65-70 GW each year, with over 80 per cent of this target expected to come from solar power, according to the Global Trade Research Initiative (GTRI). "This target seems ambitious, ...

New rules ease testing for drug imports from US, EU, Australia, and Japan

Under new guidelines, testing will be reduced to one sample every two years or one sample from 20 consecutive consignments, whichever comes first

Govt extends import regime for IT hardware products till December 31

Asks companies to seek fresh approvals based on new guidelines from January 1

Enabling IGCRS rules for EOUs electronically to cut transaction costs

The EOUs should quickly familiarise themselves with the new procedures and raise any doubts/difficulties with the CBIC and ICEGATE, preferably before the coming Wednesday

Southeast Asia's local industries struggle with influx of Chinese imports

In Thailand's Lampang, half the ceramics factories have closed, Indonesia's textile workers face mass layoffs, and Malaysia's 10% e-commerce tax fails to shield manufacturers

EOU's B-17 bond serves purpose of continuity bond under IGCR Rules

Rajagopalan answers SME queries related to GST, export and import matters

Indonesia seeks ways to balance local industries with high Chinese imports

A flood of Chinese products into Indonesia has hit local manufacturers hard, prompting the government to look for ways to placate domestic producers while avoiding angering the country's biggest trading partner. Garment makers both home-based piece work producers and factories have appealed for help as they lose market share to low-cost apparel and textiles from China. A surge of products bought online has added to the problem. A protest by workers in Jakarta prompted Indonesian Minister of Trade Zulkifli Hasan to announce in July that the government will impose import tariffs of up to 200% on some products from China, particularly textiles, clothing, footwear, electronics, ceramics and cosmetics, to try to protect local businesses and prevent layoffs. The United States can impose a 200% tariff on imported ceramics or clothes, so we can do it as well," Zulkifli said, to ensure micro, small, and medium-sized enterprises and industries survive and thrive. But China is Indonesia's .

Govt considering potato imports from Bhutan amid rising prices, lower yield

The Ministry of Agriculture & Farmers' Welfare's first advance estimate indicates that potato production is projected to be around 58.99 million tonnes this year