Govt Considering Import Restrictions on Tyres
The government is considering a proposal to put import of tyres under the restricted category to promote domestic manufacturing, according to sources.
New Delhi, Apr 2 (PTI) The government is considering a proposal to put import of tyres under the restricted category to promote domestic manufacturing, according to sources.
Currently, there are no restrictions on tyre imports. Putting restrictions will mean the importer will have to seek a licence for inbound shipments.
In the third week of March, the Directorate General of Foreign Trade had sought the views of the Department for Promotion of Industry and Internal Trade (DPIIT) on the matter as domestic tyre manufacturers have long been demanding restrictions on imports, the sources said.
The industry has time and again raised concerns over rising imports of tyres from countries like China.
However, the sources added that given the disruption in the global supply chain due to the Covid-19 outbreak, it is very unlikely that the DPIIT would agree on the proposal.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)