IMPACT OF QRs REMOVAL ON EXPORTS AND IMPORTS
Date : 24 Jul 2001
Location : New Delhi
As part of the continuing economic liberalisation programme being followed since 1991, import restrictions on 715 items were removed on 31/3/2001. These items include 147 agricultural products, 330 textile products and 238 other manufactured products. Import restrictions on 714 items were removed on 31/3/2000. The import data of these items for the year 2000-01 have now been compiled and the data indicate a growth rate of less than 3% for these items during this period. The growth rate of exports during this period was more than 19%. The import restrictions on 715 items have only been removed on 31/3/2001. Thus, it is too early to assess the likely impact of this measure on export and import of India even though the first quarter figures do not show any overall increase in imports. This was stated by Shri Murasoli Maran, Union Minister of Commerce & Industry, in a written reply in the Rajya Sabha today.