In exercise of powers conferred by Section 3 of FT(D&R) Act,1992 read with paragraph 1.02 and 2.01 of the Foreign trade Policy 2015-2020, the Central Government has amended the import policy of items under EXIM Code 8528 72 of chapter 85 of ITC (HS), 2017, Schedule I (Import policy) vide Notification No. 22/2015-2020 dated 30th July,2020.
The amendment is to shift import of Colour TV Sets under HS Code 8528 7211 to 8528 7219 from free imports to restricted imports regime. This means that importers will have to approach commerce ministry’s Directorate General of Foreign Trade (DGFT) for the imports and apply for license before importing TV Sets. It has been mentioned in said Notification that the procedure for grant of license will be separately issued by DGFT.
The above decision of restricting the import of TV Sets seems to be for encouraging the ‘Made in India’ initiative and also to give a jolt to China which is the largest exporter of TV Sets to India.
Imports of TV stood at about $1 billion during 2018-19. China ($535 million in 2018-19) is the largest exporter of TV sets in India. It was followed by countries like Vietnam ($327 million), Malaysia ($109 million), Hong Kong ($10.52 million, Korea, Indonesia, Thailand, and Germany.
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