Around 30 per cent of TVs are imported from various countries and about 80-85 per cent TV components are imported as there is no local manufacturing.
In an effort to promote Prime Minister Narendra Modi’s Atmanirbhar Bharat mission, the government restricted the imports of colour television in India. Import policy of colour television is amended from free to restricted, Directorate General of Foreign Trade (DGFT) said in a notification. The latest step by the government is taken to promote local manufacturing and cut non-essential imports. China and Vietnam are the two nations that send the maximum colour televisions into the Indian market. India imported colour TVs worth Rs 7,120 crore in FY19, which fell 22.56 per cent to Rs 5,514 crore in FY20, according to the Department of Commerce. However, the imports of such TVs had shot up dramatically by 52.86 per cent in FY19.
“The new announcement by DGFT will be a step towards encouraging homegrown brands to invest in manufacturing capabilities within India and lead to more employment, technology advancement, and local partnerships,” Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt Ltd, a Kodak brand licensee, told Financial Express Online. It is a welcome move and to achieve complete self-reliance, we need to complete the ecosystem of value addition, Avneet added.
Source: Financial Express