01-01-1970 12:00 AM | Source: Accord Fintech
India has not imposed any country-specific ban on imports: Piyush Goyal
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Union Minister of Commerce and Industry Piyush Goyal said that India has not imposed any country-specific ban on imports. He said India and China, are both members of the WTO, and any trade restriction imposed must be WTO compliant. He said the government has from time to time reviewed and taken WTO compliant measures to address the concerns raised by various stakeholders to have a holistic global trade strategy.

However, the minister said as per the import policy of the government, all goods imported into India are subject to domestic laws, rules, orders, regulations, technical specifications, environment, and safety norms. He also said the government takes appropriate action including a ban on goods if these are found to violate these regulations or have implications for national security.

Further, Goyal said in order to support and expand domestic capacities, the government has implemented policies to promote domestic manufacturing like the Production Linked Incentive (PLI) Schemes for various key sectors in line with the Atmanirbhar Bharat policy to reduce dependence on imports, with an estimated outlay of Rs 197,000 crore. In addition, to promote the semi-conductor industry, the government has formulated a scheme amounting to Rs 76,000 crore.