Welcoming the government decision to restrict imports of colour TVs, the Indian Cellular and Electronics Association (ICEA) on Friday said the move will help to boost domestic manufacturing.
“The industry was surprised by the government’s new decision to restrict the import of Colour TVs clocking upto Rs 600-700 crores per month a substantial portion of which was coming from the zero-duty FTA ASEAN countries,” the ICEA Chairman Pankaj Mohindroo said in a statement.
“The restrictions mandated through the Import licensing regime as per the new GOI notification will stop the unrestricted inflow of finished goods/CBUs. Imports of CBUs in 2019-20 crossed Rs 5,000 crores.”
“We should now, as an industry, and as a nation, rapidly build huge capacities for exports, and also build the component industry, especially the open cell/display industry,” he said.
He also requested that the import restriction must apply on future imports and not on goods in transit which are estimated to be worth Rs 500-600 crore.
“It is recommended that the government should issue stock and sales licensing model for goods already in transit and commitments already made for firm contacts,” the body said.