Daily News Govt curbs tyre imports in bid to help industry...

Govt curbs tyre imports in bid to help industry – Times of India


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NEW DELHI: The government put curbs on the import of tyres used in cars, two-wheelers and heavy vehicles, moving it from list of free imports to the “restricted” category, as part of a strategy to buoy the domestic industry.
The commerce department had identified tyres among several categories of non-essential imports, where restrictions were proposed. While the government has been seeking to boost domestic manufacturing for the last six years, Prime Minister Narendra Modi has given a fresh push through the Atma Nirbhar Bharat campaign. As reported first by TOI in January, tyres were identified as one of the sectors, along with furniture, for local production.
The government raised the import duty on furniture, but a more drastic action has been taken for furniture.
A notification issued by the Directorate General of Foreign Trade on Friday said that tyres for cars, SUVs, racing cars, including tubeless and radials are being put on the restricted list. In recent months, the commerce department has resorted to the use of import restrictions instead of free imports to boost local manufacturing.
Import of new pneumatic tyres was estimated at around $450 million during the last financial year (data available for April-February) with China just pipping Thailand as the largest source of shipments into the country.


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