ICEA hails import authorisation amendment for IT hardware, breather for PC makers

The transition towards the Import Management System, scheduled to initiate from November 1, 2023, is now being meticulously worked upon in collaboration with the Directorate General of Foreign Trade (DGFT), Ministry of Commerce, to ensure a streamlined adaptation from the current processes. The announcement comes as a vital support to the industry amid its progressive dialogues with the government to shape import norms, said the ICEA. "This decision not only addresses immediate industry concerns but also lays a solid foundation for a structured dialogue towards fostering a robust domestic IT hardware manufacturing ecosystem," ICEA Chairman Pankaj Mohindroo said. The move is a breather for companies like HP, Apple, Dell, Lenovo and others who rely on imports to meet the surge in demand in the country for their PCs, laptops and tablets, especially in the festive season. Meanwhile, the Centre has asked the PC and laptop companies to share their import data for the last three years, according to industry sources. Last month, PC and laptop makers met the IT Ministry officials to rethink its decision on import licensing requirements accompanied by a quota. The meeting discussed proposed changes, like linking the import of IT hardware to the local manufacturing of a company value and its export value of electronic items. Mohindroo emphasised the importance of such policy adjustments in facilitating India's journey towards becoming a self-reliant and globally competitive electronics manufacturing hub. "The industry is now working with DGFT to ensure a smooth transition from the current process to the Import Management System from November 1," he added. This government aims $300 billion in production for the electronics manufacturing sector by FY26. The recently-introduced Production-Linked Incentive (PLI 2.0) Scheme for IT Hardware has an outlay of about Rs 22,890 crore over the six years. --IANS na/vd

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)