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Import Restrictions. RRS feed

  • Question

  • India's import licensing policy was designed to conserve foreign exchange and promote import substitution, but has been relaxed for the current five-year period. Under a new Import-Export Policy announced April 1, 1992, and effective for five years, most goods have become freely importable, no longer requiring import licenses. A sharply curtailed negative list remains in effect which: bans three items outright; bans all consumer items and computers valued at less the Rs 150,000 (US$ 5,000); restricts 68 items and reserves eight products for import by public sector trading companies. The revised policy has also abolished requirements that all goods be imported by the end-user, allowing imports for stock and sale by distributors and wholesalers.

    Indian import controls still apply to some industrial items and most consumer goods. As a result, companies interested in the Indian market should become familiar with the licenses or other controls necessary for the import of their particular products.
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    Thursday, March 1, 2007 7:47 AM

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