PERSONAL FINANCE
According to the government's official announcement, certain items may only be imported with a current licence. According to a valid licence for restricted imports, the shipment would be accepted, the notice stated.
In an effort to be a strong advocate for 'vocal for local,' the Indian government has been working vigorously to promote locally created goods. The government decided to place immediate limitations on importing electronic devices, including laptops, tablets, and personal computers, in a recent decision on Thursday.
The promotion of local manufacturing is this action's main goal. According to the government's official announcement, certain items may only be imported with a current licence. According to a valid licence for restricted imports, the shipment would be accepted, the notice stated.
This action is in line with India's aspirational plan to become a major centre for manufacturing, with an emphasis on the electronics industry. In reality, the government is working to increase domestic production in a variety of industries, from technology to the car industry.
The government wants to lessen its dependency on export markets and promote the expansion of domestic production capacity by restricting imports of certain products. The price of importing laptops, desktop computers, and tablets is anticipated to significantly decrease as a result of this policy change.
All of these goods were included in the $19.7 billion in electronics imports during the most recent quarter (April to June), a 6.25 percent rise from the prior period. Industry experts say this action indicates the government's steadfast willingness to foster local production. One such expert is Ali Akhtar Jafri, a former director general of the Manufacturers' Association of Information Technology.
"The intention of the measure is to encourage manufacturing in India. It's a push, not a nudge," he declared. This move might provide difficulties for businesses like Dell, Acer, Samsung, Panasonic, Apple, Lenovo, and HP. However, goods covered by the baggage rules would not be subject to the limitations. "Exemption from import licencing is allowed for one laptop, tablet, all-in-one personal computer, or ultra-small form factor computer, including those purchased from e-commerce portals, through post or courier, subject to applicable duty payment," stated the notice issued by the Ministry of Commerce and Industry, Department of Commerce, Government of India.
Every traveller entering or leaving India must pass through various customs inspections, usually known as baggage rules. The government made it clear that no permission for Restricted Imports of such products will be required for items that are being reimported after being fixed abroad.
READ | 17-year-old NEET student from UP found dead in Kota, 17th case so far
Meet man who gets key role in Rs 415000 crore bank, once worked at Amazon as...
Big update for CBSE class 12 students on Accountancy exam, board makes...; check details
Sikandar Trailer: Salman Khan-Rashmika Mandanna starrer blends romance with action but lacks clarity
'Yet another....': Delhi woman cancels cab, rides with female Rapido captain, here's what happened
Mukesh Ambani earns Rs 39311 crore in 120 hours, his Rs 1727339 crore company remains...
Suresh Raina's old interview with Rinku Singh takes internet by storm, watch viral video
Arjun Kapoor opens up on his single status after split with Malaika Arora: 'baat-cheet kam sunni...'
Hrithik Roshan reacts to girlfriend Saba Azad's stunning look in white, calls her...
Meet man, IAS officer who failed 10 times, then cracked UPSC exam in second attempt with AIR...
'Chhoti Monalisa' spotted in Ujjain! Netizens say, 'badi khatarnak hai', WATCH viral video
Salman Khan fans ignore Maharashtra Dy CM Eknath Shinde, touch actor's feet, WATCH viral video
Climate-responsive artwork installed in Gurgaon, to melt at..., IMD predicts above normal heatwaves
Rising tensions in Balochistan amid Pakistan security raids Baloch protest
Meet Karumbi, Kerala farmer's 1.3 feet tall goat, now holds Guinness World Record for...
Indian-origin woman takes 11-year-old son to Disneyland, slits his throat and then...
Donald Trump orders Attorney General to review lawyers, firms' conduct who filed suits against him
Supreme Court releases inquiry report on Justice Varma cash row; video shows burnt currency
CBI files closure report in Sushant Singh Rajput death case, says...
US: 3 dead, 15 injured in mass shooting at New Mexico park
Mukesh Ambani's Campa Cola to face tough competition as Coca-Cola, PepsiCo introduce new...
'Looks like I found...': Satya Nadella reacts to Sachin Tendulkar and Bill Gates’ ‘crennis’ video
Zoho's Sridhar Vembu, OpenAI's Sam Altman drop truth bomb on coding: 'AI will write 90% of...'
This one breakfast item keeps Akshay Kumar fit and fine all day