SME Times is powered by   
Search News
Just in:   • Need revolution in education, skill building: Raghuram Rajan  • India's Forex reserves drop by over $152 mn  • Binani seeks stopping insolvency move against subsidiary  • Meghalaya assures all efforts to ensure resumption of coal mining  • Another Rs 1,394 cr bank fraud, CBI now books Hyderabad firm 
Last updated: 06 Mar, 2017  

assocham-new-logoTHMB.jpg 'Imports like electronics, machinery go against Make in India'

   Top Stories
» Prabhu chairs round-table of Invest India
» GST results in higher industrial activities, sales: Minister
» Minister urges agribusiness cos to explore more agri-marketing opportunities
» Corporate sector has to reform, perform and transform: Naidu
» Govt clarifies on e-way bill requirement for exports consignment
SME Times News Bureau | 06 Mar, 2017
The government's "Make in India" programme to boost manufacturing should target on priority basis high import-intensive items like electronics, machinery, steel and transport equipment, industry chamber ASSOCHAM said on Sunday.

"There are other major import items like crude oil, gold and precious stones which cannot be produced indigenously or are used for re-exports," the Associated Chambers of Commerce and Industry of India said in a statement in New Delhi.

"But a growing economy like India which is witnessing a huge expansion in usage of telecom and other items using electronics, should go about in a focused manner to drastically cut imports of the items which can be substituted by domestic production and add to the country's manufacturing strength," it said.

"This is eminently doable, provided the policy initiatives are put in place and implemented with great clarity and speed both by the Centre and the states."

According to ASSOCHAM there were imports of close to $4 billion of electronics, $2.36 billion of electrical and non-electrical machinery, $1.47 billion of transport equipment and about $1 billion of iron and steel.

"Thanks to expanding demand for user industries particularly telecom, automobile, smart consumer devices, the annualized imports of electronics goods grew at a whopping 24.56 percent in January, 2017," the chamber said.

"Import of products which can be manufactured within the country runs contrary to the basic grain of the Make In India. The tax structure should be such that it should make the domestic manufacture far more competitive than imports," Secretary General D.S. Rawat said.

"Electronics is one area where the country does not have adequate capacity and is highly import dependent. Thus, investment in the sector from both domestic and global firms should be welcomed and promoted," he added.
Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 24 Mar, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(22)
» Draft agriculture export policy(8)
» RBI ban on LoU to severely impact MSMEs: PPMAI(2)
» MSME ministry launches portal for women entrepreneurs (1)
» Collateral free loans available for MSMEs: Minister(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter