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In a transfer to advertise native manufacturing of screws, the federal government on Wednesday prohibited the imports of sure sorts of screws- priced decrease than Rs 129 per kg.
“The import coverage of screws…is revised from free to prohibited. Nonetheless, import shall be free if CIF (price, insurance coverage, freight) worth is Rs 129 or above per kg,” the Directorate Normal of Overseas Commerce (DGFT) stated in a notification.
The ban is imposed on coach crews, machine screws, wooden screws, hook screws, and self-tapping screws.
India imported screws, bolts, nuts, washers and related articles value $468.15 million throughout April-October FY24 and $827 million in complete FY23 largely from France, China, Belgium, Australia, Bangladesh and Brazil.
