Indian Govt. considers Temporary Licensing Regime For Select Items
25/11/2008 12:00
(RTTNews) - The Commerce Ministry is contemplating a temporary licensing regime for import of select items, considering a threat of cheap imports flooding the Indian market, especially from China, media reported.
The ministry has also alerted different Government wings and industry association to keep a closer vigil on the volume of imports landing at the Indian ports and airports at a time when the world commodity prices declined sharply.
The report indicated that items like bicycle parts, dry battery cells and some electronics items of interest to small-scale units may come under the restrictive import regime. Besides licensing, other curbs like imports at select ports may also be imposed.
While India, under the WTO obligation, has done away with quantitative restrictions on imports, it can invoke certain windows of multilateral laws to bring certain items from the Open General License to a temporary licensing regime.
The official reportedly said that these restrictions are being considered, as the anti-dumping mechanism, provided under the WTO, is a time-consuming process. The industries that are exerting pressure on the government against imports included steel and edible oils.
The ministry has also alerted different Government wings and industry association to keep a closer vigil on the volume of imports landing at the Indian ports and airports at a time when the world commodity prices declined sharply.
The report indicated that items like bicycle parts, dry battery cells and some electronics items of interest to small-scale units may come under the restrictive import regime. Besides licensing, other curbs like imports at select ports may also be imposed.
While India, under the WTO obligation, has done away with quantitative restrictions on imports, it can invoke certain windows of multilateral laws to bring certain items from the Open General License to a temporary licensing regime.
The official reportedly said that these restrictions are being considered, as the anti-dumping mechanism, provided under the WTO, is a time-consuming process. The industries that are exerting pressure on the government against imports included steel and edible oils.
by RTT Staff Writer
11/21/2008 6:16 AM ET
Source: www.rttnews.com
11/21/2008 6:16 AM ET
Source: www.rttnews.com
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