The government is currently not examining any proposal to impose licensing restrictions on import of more electronic goods, a senior government official has said.
The Directorate General of Foreign Trade (DGFT) recently announced import restrictions on laptops, tablets and personal computers which are to be implemented from November.
But there are no plans of adding more items to the list at the moment although imports are being monitored for a wide range of products to ensure that there was no undue dependence on any particular country, Commerce Secretary Sunil Barthwal said in an interaction with the media on Monday.
“We are evaluating our position in consultation with other Ministries. But nothing is in the offing now. As and when we feel the need, we have to take a call (on the matter). But currently there is no such move,” he said.
UK FTA talks
On the India-UK FTA negotiations, that are currently on in New Delhi, Barthwal said that there were only few issues left to be resolved which he hoped would be closed soon. “The UK team is coming to India during the Trade and Investment Working Group (TIWG) meeting (in Jaipur) and we are hoping that we would be closing those remaining issues,” he said.
Out of the total 26 chapters in the proposed FTA, 19 have been closed. Investment is being negotiated as a separate agreement (bilateral investment treaty) between India and the UK.
India is hopeful that the India UK FTA talks could be concluded soon. “I think there is a good possibility of the UK FTA moving forward. There are a lot of steps before FTA is signed,” the Secretary said, adding that Cabinet approval was also required.
One section of the UK team is already in New Delhi while another set of officials would join from August 16. India-UK Minister-level meeting is likely on August 21.
The Commerce Secretary further said that India will now consider FTAs with countries where it has a strategic interest in addition to trade interest.
India was interested in countries that could supply critical minerals to help in energy transition process, such as making batteries for electric vehicles. “We are looking at FTAs with smaller countries in terms of securing critical minerals,” he said.
Countries in South America, like Peru and Chile, had reserves of critical minerals and India is exploring FTAs with both.
