Page 10 - India Imports

Govt aims to meet 70% of IT hardware need through local production: MoS IT

The government aims to meet up to 70 per cent of the country's IT hardware requirement through local production in the next three years and reduce dependency on imports from non-trusted sources, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Friday. Speaking to reporters, Chandrasekhar said Ministry of Electronics and IT will share a draft of IT hardware import rules with industry players later in the day as it looks to curb dependence on supplies from non-trusted sources. "At present, almost 80 per cent of our supplies to the digital ecosystem come from imports. We want to make sure whatever the sources are, they are trusted. As part of emphasising trust, it is obvious that the Indian component of that supply chain will have to grow. Today 8-10 per cent of our supply requirement comes from India, we want to make that 65-70 per cent in the next three years," the minister said. As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT ...

IT hardware companies may be asked to register for imports in FY24: Report

This comes a month after the DGFT announced that the import of certain IT hardware products, including laptops, tablets, PCs, servers, etc., would fall under the restricted category

India's arms imports declined significantly in last 4-5 years: J-K L-G

India's arms imports reducing significantly in the last 4-5 years and defence export reaching an all-time high in the last financial year shows our commitment to innovation and Indigenous technology development, Lieutenant Governor Major Sinha said on Monday. Sinha made the remarks while attending the North-Tech Symposium-2023 held on Jagti Campus of IIT. He attended the event along with Chief of defence staff (CDS) Gen Anil Chauhan. The CDS too held informal interaction with the media. The Lt Governor congratulated the Northern Command, Society of Indian Defence Manufacturers (SIDM) and IIT Jammu for jointly hosting hundreds of industries and defence tech startups. "It is a proud moment for the academia as for the first time since its inception North-Tech Symposium, defence expo is being held in IIT Jammu," the Lt Governor said. He said that the three-day event will showcase cutting-edge technological advancements of the Indian Army and forge a synergy between army, industry, and

QCOs act as NTBs; raise compliance burden and costs

The products under QCOs must conform to the corresponding standard and must bear the standard mark under a licence or certificate of conformity (CoC) from BIS

Panic buying? IT hardware imports rise 50% ahead of licence deadline

The rise in imports is expected to continue in September as well, as it takes 4-6 weeks for consignments to reach India

ICEA urges govt to rethink new laptop, tablet and PC import policy

The development came a day after Ashwini Vaishnaw, Union Minister for Communications and IT said the industry had not raised any concerns on the import licensing requirement

India's imports from Russia doubled to $20.45 bn in April-July period

India's imports from Russia doubled to USD 20.45 billion during the April-July period of this fiscal due to increasing inbound shipments of crude oil and fertiliser from that country, according to the commerce ministry data. With this, Russia has become India's second largest import source during the first four months of this fiscal. The imports were USD 10.42 billion during April-July 2022. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share of India's oil imports rose to over 40 per cent. India, the world's third-largest crude importer after China and the United States, has been buying Russian oil that was available at a discount after some in the West shunned it as a means of punishing Moscow for the invasion of Ukraine. The ministry's data showed that imports from China dipped to USD 32.7 billion during the April-July period as against USD 34.55 billion in the same period last year. Similarly, im

Indian purchases of Russian crude slump by record 25% in August

Shipments of Russian oil to India dropped to around 1.5 million barrels per day (bpd) in the first 12 days of August from around 2 million bpd in entire July, according to data

Nepal ready to supply tomatoes to India, seeks easier access to market

Nepal is ready to export tomatoes to India in bulk on a long-term basis to quell the skyrocketing prices but has sought easy access to the market and other necessary facilities. The neighbouring country's assurance came after Finance Minister Nirmala Sitharaman told Parliament on Thursday that India has started importing tomatoes from Nepal amid a record-high spike in prices in the country. India is importing tomatoes for the first time due to high retail prices of around Rs 242 per kg amid supply disruptions caused by heavy rains. Nepal is desirous to export vegetables, such as tomatoes, on a long-term basis to India, but for that India has to provide easy access to its market and other necessary facilities, Agriculture Ministry spokesperson Shabnam Shivakoti told PTI here on Friday. Though Nepal has already started exporting tomatoes to India through official channels a week ago, it is not in big quantities, she said. Arrangements are yet to be made for large-scale export of ...

India's laptop import restrictions smell like bureaucratic desperation

The move a day later to push back implementation until November only adds to the sense that New Delhi is making things up as it goes along

Explained: Why India restricted computer imports and who needs a licence

India has imposed restrictions on the import of personal computers, laptops, tablets, all-in-one PCs, 'ultra-small form factor' computers, and servers falling under HSN code 8741

Laptop, tablet sales surge amid concerns over shortage, price rise

On August 3, the government had announced that a licence will be required for import of laptops, tablets, all-in-one-personal computers, ultra-small factor computers and servers

License to lease: How WTO provision became tool for nations to curb imports

While a WTO challenge to India's import curbs on laptops, tablets and personal computers may not happen anytime soon, how it implements the notification will be under close scrutiny

Russia's oil to India in June the cheapest since Ukraine war began

The price for each barrel including freight costs was $68.17, down from $70.17 in May and $100.48 a year earlier, according to the latest figures from India's Ministry of Commerce and Industry

Top headlines: India Inc profit surges 65%, world entering green energy era

Business Standard brings you the top headlines at this hour

Curbs on PC, laptop imports: 3-month breather set to light up Diwali season

According to a government notification, import consignments can be cleared until October 31 without a licence and a government permit would be required for the clearance of imports from November 1

Weekend Bites: Import licences, taxing games, and the Ambani way

In which we munch over the week's platter of news and views

Govt defers implementation of laptop, PCs import restrictions to Nov 1

Import consignments can be cleared till October 31 without a license for restricted imports

Govt restricts import of laptops, computers to push local manufacturing

"Their import would be allowed against a valid licence for restricted imports," the notice said

India to import 35% more tur dal at 1.2 mn tonnes to check prices

Facing a sharp rise in tur prices amid lower production, India will import 12 lakh tonne of the pulse in the current fiscal, up by 35 per cent from the last year, to boost domestic availability and contain price rise. "Tur is giving us trouble. All-India average retail price of tur is up by 25 per cent to Rs 128.66 per kg, when compared to last year's level. But it will start cooling down after import begins," Consumer Affairs Secretary Rohit Kumar Singh said in a media briefing. The issue in tur (pigeon peas) is lower domestic production. The country's tur production remained lower at 30 lakh tonne in the 2022-23 crop year (July-June) against 39 lakh tonne last year. "We consume around 44-45 lakh tonne in India. Every year, we have to import. This year, obviously, we have to import more. We will import 12 lakh tonne in the current fiscal," Kumar said. So far, the country has imported 6 lakh tonne of tur. Imports are undertaken from Myanmar and East African countries. The crop in E