Govt imposes import restrictions on colour television, aims to curb inbound shipments from China

By: |
Updated: Jul 30, 2020 11:02 PM

"Import policy of colour amended from free to restricted," Directorate General of Foreign Trade (DGFT) said in a notification.

China is the largest exporter of TV sets in India. It was followed by countries like Vietnam, Malaysia, Hong Kong, Korea, Indonesia, Thailand, and Germany.

The government on Thursday imposed restrictions on imports of colour television, a move aimed at promoting domestic manufacturing and cut inbound shipments of non-essential items from countries like China. “Import policy of colour television… amended from free to restricted,” Directorate General of Foreign Trade (DGFT) said in a notification.

Putting an item under restricted category of imports means the importer of that commodity will have to seek licence from the commerce ministry’s DGFT for the imports.

The major exporters of TV sets to include China, Vietnam, Malaysia, Hong Kong, Korea, Indonesia, Thailand, and Germany.

The curbs are imposed on TV sets of screen size ranging from up to 36 cm to over 105 cm. Liquid crystal display (LCD) television sets of screen size below 63 cm are also covered under the restrictions.

India imported colour TV worth USD 781 million in 2019-20. Imports from Vietnam and China stood at USD 428 million and USD 293 million respectively in the last financial year.

Commenting on the development, President and CEO Panasonic India Manish Sharma said that consumers are going to get high quality assembled TV sets now.

“It will definitely have a positive impact on domestic assembling which happens here. Leading brands already have manufacturing and assembling units in the country. So, it is not going to impact us,” he said. The move will have a procedural impact, he added.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Help nations to prevent health crisis from becoming economic crisis: FM Sitharaman to ADB
2Investment in health, social protection key to achieving recovery from Covid-19 pandemic: ADB
3RBI Governor Shaktikanta Das says normal monsoon should help contain food price pressures