GamoAccu
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and toilets
India bans import of Laptops, Tablets and Personal Computers with immediate effect
- Thread starter pikkuboss
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India is rather losing its clout. India's share in global merchandise trade is even less than tiny Taiwan and is set to go down even further.
India's exports fall 22% to $32.97 bn in June from $42.28 bn a year earlier
India's merchandise trade deficit in June was $20.13 billion, with exports at $32.97 billion and imports at $53.10 billion. Services exports were $27.12 billion.
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Puffin
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India May services exports rise 7.7% to $27.06 billion: RBI
SECTIONSIndia May services exports rise 7.7% to $27.06 ..
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https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst
India’s exports likely to touch $900 bln in 2023/24 despite global headwinds
Reuters, New DelhiPublished: 04 May ,2023: 10:42 AM GSTUpdated: 04 May ,2023: 11:11 AM GST
India’s exports of goods and services could touch $900 billion in the current financial year, up from $770 billion in the previous year, keeping resilient despite global headwinds, a top official of a grouping of exporters said.
Merchandise exports could expand to between $495 billion and $500 billion, while services exports could touch $400 billion in the year ending March 2024, said Ajay Sahai, director general of the Federation of Indian Export Organizations (FIEO).
Overseas demand remains strong in many markets, he added.
Trade Minister Piyush Goyal urged exporters to explore new markets, however, in view of the possible impact of war in Ukraine and a global slowdown
“The times ahead are going to be very, very tough,” Goyal said speaking at a industry event late on Wednesday, while warning of the fallout from the conflict.
Prime Minister Narendra Modi’s government has set an export target of $2 trillion by 2030, offering benefits to boost exports of electronics, engineering, pharmaceutical, and other goods.
India’s exports have increased by more than $200 billion in the last two years, led by a surge in exports of software, mobile exports, and agricultural and petroleum products.
Exports of engineering, gems, and jewelry goods have slowed in the last few months, however.
Exports of agricultural, petroleum, and electronic goods remained strong in the Western markets due to pricing factors while exports to Asian and Middle East countries have grown substantially, exporters said.
Sahai, who was part of a 50-member business delegation to Russia last week, said there was a huge demand for Indian goods, particularly food, after the Western sanctions imposed over the Ukraine war.
“Indian exporters are hopeful that both countries would soon work out a mechanism allowing payments in local currencies that would facilitate the shipments of Indian goods to Russia,” Sahai said.
But Indian officials have said Russia was reluctant to accept payments in the rupee currency for its oil exports.
India has not explicitly condemned Russia’s February 2022 invasion of Ukraine and has called for dialogue to resolve
hostilities.
India’s exports likely to touch $900 bln in 2023/24 despite global headwinds
India’s exports of goods and services could touch $900 billion in the current financial year, up from $770 billion in the previous year, keeping resilient
That Guy
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If it's done in a step by step manner, it's actually very beneficial. It forces companies to open local manufacturing/assembly plants, creating new jobs and introducing newer technical skills and machinery to the local economy.
Of course this assumes it was done in a competent manner, and India's current government has a poor track record of using the wrong methods to get good results.
Skull and Bones
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I do agree with you that this step reeks of haste and deliberation, rather than proper sequential planning. But hopefully we will see some positive implications over a year or two into launching home grown assembly units and manufacturing. Indian domestic market is too big for manufacturers to ignore.
Puffin
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If the Modi govt had said we will ban import of semiconductors or SMT or OLED/LED displays then I would agree with you but here we are talking about PC and Laptops . It takes MINIMUM ability to put those together. I can teach a uneducated woman within 2 days to put one together even less time for someone with a primary education.
Regardless of whether manufacturing is easy or not its a dumb decision taken in haste like demonetization. No warning was given, no indication, just a rabbit out of the hat. Its not easy to establish an assembly line soo quickly, what if nothing happens in next 3 months, are people supposed to go without laptops?
Secondly, it makes india look like a risky place to do business, investors have complained again and again that changing laws are one of the biggest hindrances to investing in india . What if a company had made a billion dollar investment to open retall stores(say apple), and this investment was taken with the expectation that the stores will be stocking macbooks. Now that investment is down the toilet. The company now needs a plan to invest another billion dollars setting up a factory in india. It makes india look like a crook, we begged them for investment, and now that we have them by the balls, they have no choice but to invest more to be able to sell macbooks. This is a warning to other companies to think a million times before entering india and tying up their money there. Companies like apple might have spare cash, but tens of thousands of medium sized companies dont have tome for this bullshit
Mark my words, you will get some investment in manufacuring laptops, but 100 times of that investment will be lost and you wont get to know abt it since it will never be made. If i was an investor i would think a million times before investing in india. No company wants to invest in a country where new laws and regulations can be made anytime, there is no certainty of anythint and no future planning is possible, just jhumla and mayhem and fekugiri.
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NG Missile Vessels
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India is rather losing its clout. India's share in global merchandise trade is even less than tiny Taiwan and is set to go down even further.
India's exports fall 22% to $32.97 bn in June from $42.28 bn a year earlier
India's merchandise trade deficit in June was $20.13 billion, with exports at $32.97 billion and imports at $53.10 billion. Services exports were $27.12 billion.
Bangladesh's forex reserves drops to 23.56 billion USD as per IMF manual: | DD News
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CallSignMaverick
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Never really understood the obsession of this prajati with usIndia is rather losing its clout. India's share in global merchandise trade is even less than tiny Taiwan and is set to go down even further.
India's exports fall 22% to $32.97 bn in June from $42.28 bn a year earlier
India's merchandise trade deficit in June was $20.13 billion, with exports at $32.97 billion and imports at $53.10 billion. Services exports were $27.12 billion.
Export markets are down everywhere
Taiwan June exports slump the most in 14 years on weak China, US demand
Taiwan's exports fell more than expected in June, slumping the most in almost 14 years, as the island struggled with persistent weakness in demand from the U.S. and China for its hi-tech products.
hembo
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Forty-four companies, including top brands, have already applied for incentives under the production-linked incentive (PLI) scheme for IT hardware manufacturing, a top government official said. The recently notified import restrictions on products such as laptops and tablets were introduced from a security perspective but will spur local production and won’t lead to supply disruptions, according to this person.
IT hardware companies have been told about the licensing portal where it takes five to 10 minutes to get approval for an import licence, this official said.
“The regulations being imposed are from a security point of view, and these regulations will not create any disruption anywhere,” the official said. “Today, if you want to take permission under this regulation, it will not take you more than five to 10 minutes to fill the online application and get the approval. So nothing is going to be disrupted.”
The official was referring to the import restrictions imposed on laptops, tablets, servers, all-in-one personal computers and ultra-small form factor computers on Thursday.
Late on Friday, the government issued another notification deferring the implementation to November 1. Import consignments won’t need a licence until October 31.
ET reported that the licensing requirement against import of IT hardware was to guard against in-built security loopholes that may potentially endanger sensitive personal and enterprise data.
The official said the move will lead to India becoming an export hub for laptops and servers.
“There is already a clear ecosystem to manufacture laptops and servers,” he said. “Already, 44 companies have registered for the IT hardware PLI. And most of these companies are in such a position that they can start production immediately.”
Nearly all major laptop manufacturers have applied for the revised PLI scheme.
“Two of the major server manufacturers have clearly committed that they will be making India a major export hub,” he said. “We will see a similar scale of locally made laptops and tablets as mobile phones, 99% of which are made in India.”
India’s electronics imports, which include laptops, tablets and personal computers, stood at $19.7 billion in the April-June period, up 6.25% year-on-year. In FY23, imports of personal computers, including laptops, amounted to $5.33 billion.
“We anticipated the reaction from the industry,” the official said. “Such moves usually impact the trading community. No one has yet seen how easy it is to register online and get a licence. We were prepared for this reaction.”
Minister of state for IT and electronics Rajeev Chandrasekhar had tweeted earlier that the government’s objective was to ensure trusted hardware and systems, reduce import dependence and increase domestic manufacturing of this category of products.
Industry experts, however, had questioned the timing of the announcement. It was made just before the start of the festive season when sales traditionally spike.
The notification has exemptions such as the import of one laptop, tablet, all-in-one personal computer or ultra-small form factor computer as personal baggage.
Also exempt will be the import of 20 IT devices per consignment for R&D, testing, benchmarking, and evaluation. Imports for repair and re-export, and for product development purposes, re-import of goods repaired abroad, and devices coming as essential parts of capital goods will also be exempt from requiring a licence.
44 IT hardware companies log in for PLI sops
IT hardware companies have been told about the licensing portal where it takes five to 10 minutes to get approval for an import licence, this official said. “The regulations being imposed are from a security point of view, and these regulations will not create any disruption anywhere,” the...
Reliance Retail in talks with local players to make its new laptop in India
Reliance Retail is exploring options to manufacture its newly launched JioBook laptop in India, due to the Centre's import licence on electronic devices. Dixon Technologies and Sanmina, a joint venture with Reliance, are potential partners. The laptop has a 2.0 GHz octa-core processor, 4 GB...
Puffin
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On further reflection I accept you make very valid points.
Such policy changes need a gestation period of at least a year and should NEVER be arbitrary but arrived at after discussion with all that are affected
CIA Mole
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modi economic terrorism is almost as bad as feudal xi’s terrorism
VkdIndian
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He has made big blunders due to undue haste. This might add to that list of those decisions.
CallSignMaverick
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It has been extended till October, and I don't think this to be a blunder.
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