Government seeks to step up monitoring of imports

government seeks to step up monitoring of imports

Sumary of Government seeks to step up monitoring of imports:

  • The government is looking to expand the import monitoring system to electrical machinery, machinery and mechanical appliances, certain metals, chemicals and plastics as it seeks to devise strategy to better understand imports, a lot of which is being shipped under the radar, and co-relate it with domestic manufacturing capability and capacity utilisation..
  • An analysis undertaken by the commerce department showed that close to 80% of the imports under 10 segments were imported under the “others”.
  • As a result, the government has devised a multipronged strategy, including issuing HSN Codes to classify these goods for better monitoring…

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