Empowering MSMEs with News & Insights

India's IT Hardware Imports Expected To Maintain Stability Despite New Regulations

Updated: Jan 29, 2024 05:11:31pm
image

India's IT Hardware Imports Expected To Maintain Stability Despite New Regulations

New Delhi, Jan 29 (KNN) India's imports of laptops, computers, and tablets are anticipated to remain largely unchanged despite the introduction of the import management system on October 1, 2023.

According to sources, the government-issued import authorisations for the notified period until September 30, 2024, indicate that the quantities are expected to be "more or less the same" as the previous year.

The new "import management system," implemented on October 1, 2023, requires importers to apply to the Directorate General of Foreign Trade for automatic import authorisations.

The Ministry of Electronics and Information Technology (MeitY) is currently analysing import data to determine the import rules for the seven IT hardware items covered under the system after the expiration of the notification on September 30, 2024, reported businessline.

Import authorisations were granted to all applicants within the available window, and there were no refusals.

The monitored items, including laptops, tablets, PCs, and servers, had imports totalling about USD 8 billion in 2022-23, with a significant portion, approximately USD 5 billion, imported from China.

This system aims to enhance supply chain resilience and address national security concerns, with a specific focus on monitoring imports from China.

MeitY is currently collecting and analysing disaggregated data to understand the composition of traders and manufacturers in the sector.

The system provides insights into aspects such as the concentration on components versus finished goods.

During a recent India-US Trade Policy Forum meeting, US Trade Representative Katherine Tai urged India to keep the US informed about the "implementation plans" for its import management system for computers and tablets.

The application window for import authorisations for the indicated period has closed, and there are no current plans to reopen it, according to sources from MeitY.

(KNN Bureau)

COMMENTS

    Be first to give your comments.

LEAVE A REPLY

Required fields are marked *