New Delhi, Feb 24 (SocialNews.XYZ) In a relief for smartphone manufacturers, the Directorate General of Foreign Trade (DGFT) has agreed to remove restrictions on displays and camera modules that were brought in via a DGFT notification on February 9, the India Cellular and Electronics Association (ICEA) said on Thursday.
The DGFT, following a meeting between the Ministry of Electronics & IT, Ministry of Finance and Ministry of Commerce & Industry, has agreed to remove restrictions on displays and camera modules.
"Such ease of doing business actions, based on consultation with the industry, will help India realise its dream of becoming a global hub for electronics manufacturing and exports - reaching a $300 billion mark by 2026", said Pankaj Mohindroo, Chairman, ICEA.
The government, after internal consultation and inter-ministerial discussion, changed the categories of Displays and Camera Modules from "restricted" to "free".
The goods classified as "Free" in the import policy do not require permission from DGFT for import.
However, "Restricted" goods require authorisation or license from the authority for being imported into the country.
The move avoids any disruption in the supply chain and further strengthening India's ambitions to build a strong electronics ecosystem, said the ICEA.
Source: IANS
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