Search Global Export Import Trade Data
Recent Searches: No Recent Searches

India is considering a number of tariffs and non-tariff steps to cut imports of non-essential consum.

Date: 31-01-2023
Subject: India is considering a number of tariffs and non-tariff steps to cut imports of non-essential consum
India is considering a number of tariffs and non-tariff steps to cut imports of non-essential consumer and electronic goods, including from China, as trade imbalances concern policymakers, two government officials and an industry source said.

As many as 18 key government ministries, led by the trade ministry, met last week to firm up steps first aimed at cutting imports from China, which accounts for nearly a third of India's trade deficit, said the three sources who declined to be named.

India has been trying to reduce its trade deficit with China since 2020, when border tensions flared along a contested frontier, but with little success as the country is a key and cheap supplier of goods including active pharmaceutical ingredients, electrical equipment and several chemicals.

The trade gap with China widened 28% in April-December 2022 from the same period a year earlier, as India's domestic demand continued to support Chinese imports while COVID lockdowns in China crimped imports from India.

The government is considering ramping up investigations to weed out unfair practices on a "wide array" of imports, from China and elsewhere, one of the officials said, without specifying which goods or what the unfair practices were.

The industry source said that so far this year anti-dumping investigations have focussed on products such as printed circuit boards and a type of toughened glass imported from China.

If a trading partner were found to have engaged in unfair practices, it would be necessary to introduce safeguards such as the imposition of anti-dumping duties, the official said.

India's federal trade ministry and China's embassy in New Delhi did not immediately respond to requests for a comment.

India's overall merchandise exports fell 12% in December from a year earlier, while merchandise imports dropped 3%, widening the deficit by 13%, government data showed.

The officials said India would also intensify checks on imported goods to make sure they adhere to national quality standards, the two government officials added.

Reuters reported last week that the government could highlight the rising trade deficit as a major downside risk to the Indian economy in its Economic Survey going in to the new fiscal year from April 1, Reuters reported last week.

The government is also likely to detail some of the steps to tackle the issue in the Feb. 1 budget.
 Source Name:-Economic Times

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 16-03-2023
Notification No. 15/2023 - Customs (N.T.)
Exchange rate Notification No. 15/2023-Cus (NT) dated 16.03.2023-reg

Date: 15-03-2023
Notification No. 14/2023-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 03-03-2023
Notification No. 16/2023-Customs
Seeks to amend notification No. 50/2017- Customs, dated 30.06.2017, in order to reduce the BCD on Tur Whole to Nil.

Date: 03-03-2023
Notification No. 15/2023-Customs
Seeks to amend notification No. 30/2022- Customs, dated 24.05.2022, in order to discontinue the specified TRQ rate after the 31st March 2023.

Date: 03-03-2023
Notification No. 11/2023-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022 , to reduce the Special Additional Excise Duty on Diesel.

Date: 03-03-2023
Notification No.10/2023-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to increase the Special Additional Excise Duty on production of Petroleum Crude and reduce SAED on export of Aviation turbine Fuel.

Date: 03-03-2023
Notification No. 12/2023-Central Excise
Seeks to further amend No. 10/2022-Central Excise, dated the 30th June, 2022 , to reduce the Road and Infrastructure Cess on Diesel.

Date: 02-03-2023
Notification No. 12/2023 - Customs (N.T.)
Exchange rate Notification No. 12/2023-Cus (NT) dated 02.03.2023-reg

Date: 28-02-2023
Notification No. 03/2023- Integrated Tax (Rate)
Seeks to amend notification no. 1/2017-Integrated Tax (Rate), dated 28.06.2017.

Date: 28-02-2023
NOTIFICATION No. 02/2023- Integrated Tax (Rate)
Seeks to amend notification No. 10/2017- Integrated Tax (Rate) so as to notify change in GST with regards to services as recommended by GST Council in its 49th meeting held on 18.02.2023.

Exim Guru Copyright © 1999-2023 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001