IMPORT OF SENSITIVE ITEMS BEING CLOSELY MONITORED
Date : 22 Nov 2002
Location : New Delhi
Subsequent to removal of quantitative restrictions (QRs) last year, 300 items were identified as sensitive items. Import of these items is being monitored regularly. As per the provisional estimate import of these items for the first six months of the current financial year is Rs. 6487 crore as compared to Rs. 5854 crore for the corresponding period of last year thereby showing an increase of 11%. The growth in imports in general for the same period is 12%. Detailed analysis of these sensitive items show that the growth is accounted for mainly due to increase of import of crude palm oil to the extent of Rs. 1434 crore. For regulating the import of palm oil, the government has already fixed tariff value for assessment of custom duty which is being revised from time to time. This was stated by Shri Rajiv Pratap Rudy, Minister of State for Commerce & Industry, in a written reply in the Lok Sabha today. In reply to another question, Shri Rudy said that as part of the ongoing negotiations in agriculture in the WTO, the US and some other members of the WTO favour steep reductions in tariffs on the basis of a "Swiss Formula" have also been suggested for developing countries by some members. India supports minimal reductions in tariffs on a bound rate basis for developing countries and flexibility to address specific concerns of domestic agricultural production and of our farmers.