Placing an merchandise underneath restricted class of imports means the importer of that commodity must search licence from the commerce ministry’s DGFT for the imports.
The key exporters of TV units to incorporate China, Vietnam, Malaysia, Hong Kong, Korea, Indonesia, Thailand, and Germany.
The curbs are imposed on TV units of display measurement starting from as much as 36 cm to over 105 cm. Liquid crystal show (LCD) tv units of display measurement beneath 63 cm are additionally coated underneath the restrictions.
India imported color TV price USD 781 million in 2019-20. Imports from Vietnam and China stood at USD 428 million and USD 293 million respectively within the final monetary yr.
Commenting on the event, President and CEO Panasonic India Manish Sharma mentioned that customers are going to get top quality assembled TV units now.
“It’s going to positively have a constructive impression on home assembling which occurs right here. Main manufacturers have already got manufacturing and assembling models within the nation. So, it isn’t going to impression us,” he mentioned.
The transfer can have a procedural impression, he added.