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Restrictions imposed on imports of color TV sets:
According to the notification issued by the Directorate General of Foreign Trade (DGFT) on 30th July 2020, the amendment in the import policy stated that there would be restrictions for the importation of color televisions. It stated that "Import policy of color television is amended from free to restrict."
The notification included all sizes of televisions from 36cm to 105cm, also liquid crystal display(LCD) of size below 63cm is now restricted. This restriction is meant in order to push the “Make in India” concept. The items under restriction would now need import license from the concerned department. The major importer of this set of items is from Vietnam, Malaysia, Hong Kong, Korea, Indonesia, Thailand, and Germany. The statistics stated that color television sets worth $781 million were imported in the year ended 31 March out of which major share was from Vietnam i.e. $428 million and China i.e.$292 million.
This might be a move to curb the ties with China after the recent activity on the Galwan Valley and to encourage the local manufacturers in a move of Atmanirbhar Bharat.
This is not the first time that the government has cut the deals or restricted the deals which impact China. Recently the government issued a notification to ban 59 applications that were developed in China.
These minor steps of government would lead to a better place for our local manufacturers, which in turn would lift our economy by creating employment opportunities within the country, which would also increase the standard of living of the citizens. This move of the government is also welcomed by the Indian Cellular and Electronics Association (ICEA). Pankaj Mohindroo, the chairman of ICEA said that “The industry was surprised by the government’s new decision to restrict the import of Colour TVs clocking up to Rs 600-700 crores per month a substantial portion of which was coming from the zero-duty FTA ASEAN countries,” on the other hand, Panasonic India CEO & President Manish Sharma did not oppose this amendment and stated, "The move will have a procedural impact. 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." Though this might have an effect on the relations between many foreign countries and India as it is going to affect their export income as well.
Looking at the present scenario many businesses have had the worst impact on their sales revenue. These moves of the government to increase production within the country are a boon for the major chunk of the population but at the same time, a part of them is affected. Those having business ties with the counties in East Asia might face difficulties and at the same time discourage imports, which in the end is beneficial to the whole country.
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