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Govt working on ways to contain surge in imports of non-essential goods


The government is working on ways to contain surge in of non-essential goods with an aim to boost the country’s exports and reduce trade deficit, an official said.

The commerce ministry has identified those products and have sent communications to the line ministries to work on remedial measures for cutting down those imports, the official said.

According to the ministry’s data, during April-October this fiscal have increased to USD 436.81 billion as against USD 328.14 billion in the same period last year. Trade deficit for April-October 2022 has widened to USD 173.46 billion as against USD 94.16 billion in April-October 2021.

Another official said that it is the commerce ministry’s mandate to constantly monitor trends in and exports, and ascertain reasons behind those trends.

“In this regard, we reach out to various ministries, industry bodies, export promotion councils, trade experts and other relevant stakeholders to seek information related to the trends as well as for taking appropriate actions, wherever necessary,” the ministry official added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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