What is India going to do?
Views : 351
Author : Bozhou Marine
Update time : 2020-07-17 20:51:15
"From August, may increase the tariff! Some commodities have been raised to 25% and increased to 40% next year."
India has been acting constantly recently! Increase tariff, customs withholding goods, boycott domestic products, block app, strengthen the audit of certificate of origin...
Earlier, two Indian officials said on June 18 that India planned to set higher trade barriers and increase import tariffs on about 300 products from China and other regions. Subsequently, according to Indian media, the Indian government will strengthen the inspection of imports from Sri Lanka, Bangladesh, South Korea and ASEAN region. The Ministry of Commerce and industry of India is worried that Chinese products will be transported to India through the above countries, so it is necessary to strengthen the inspection on the origin of products. (see article: India strengthens the inspection on the origin of products transferred to India! More efforts to resist China!)
According to the report of the times of India on July 10, India has requested that e-commerce products should be marked with "country of origin" and other information before August 1. (see article for details: India's new move to boycott Chinese goods! Before August 1, e-commerce products must be marked with "country of origin")
It is worth noting that a few days ago, the relevant industry insiders disclosed that the Indian government expected to levy 20% - 25% tariff on imported PV modules from August, raise the basic tariff of solar modules to 40% within one year, and plan to raise the tariff of PV inverter made in China to 25%. Although the policy of imposing tariffs on inverters has not yet been implemented, there is a strong voice in India.
India's minister of new and renewable energy, R.K. Singh, has said that the tariff on imported solar modules will be increased by 20% to 25% from August 1, and 40% will be imposed next year; 15% tariff will be imposed on imported solar cells from August and 30% to 40% next year.
According to the Ministry of Commerce, the top three major commodities imported from China are mechanical and electrical products, chemical products and base metals and products. Among them, the import volume of mechanical and electrical products was US $33.83 billion, down 8.6%, accounting for 49.5% of India's total imports from China. Among India's exports to China, mechanical and electrical products are the third largest category of commodities, with an export volume of US $1.66 billion in 2019, an increase of 21.6%, accounting for 9.7% of India's total exports to China.
In a press conference in early July, Indian power Minister Manmohan Singh said the government planned to pass the requirements on state-owned power Finance Corp and Indian renewable energy development The agency has offered low interest loans to power companies that purchase parts and equipment in India to encourage local purchases, and said it has asked the domestic industry to see what imported alternatives local manufacturers can offer.
At that time, for photovoltaic cells and modules, India announced a 25% protection tax on solar cells and modules imported from China and Malaysia to protect domestic battery and module manufacturers. The tariff rate is 25% in the first year and gradually reduced in the second year by 5% every six months until July 31, 2020.
Previously, the times of India reported that due to the delay in customs clearance of goods entering India, the goods were overstocked at the port, which hindered the implementation of photovoltaic projects in Rajasthan and other regions of India. Suman Kumar, President of the solar energy association in Rajasthan, India, was quoted by the media as saying: "many solar developers' goods are stuck, and if they are not released as soon as possible, the progress of the project will be affected. Most importantly, it will also delay the country's much-needed economic restart. "
At present, Indian officials have not given a clear explanation for this move. Customs authorities told importers that there would be delays in customs clearance of Chinese goods, but gave no reason. The central tax department said it had not issued an order to restrict Chinese goods. A number of component export enterprises told EO that although the media reported that components were affected by customs clearance in gebe state, their export sales business in India had not been affected.
The yen exchange rate hits a 34-year low
The Price of Cocoa Rising
Dali Ship Crash Into Francis Scott Key Bridge
Severe Congestion In South African Ports
