[ad_1]
The federal government on Wednesday imposed a ban on imports of sure sorts of screws priced decrease than Rs 129 per kg, a transfer which might assist promote home manufacturing. “The import coverage of screws…is revised from free to prohibited. Nonetheless, import shall be free if CIF (value, insurance coverage, freight) worth is Rs 129 or above per kg,” the Directorate Common of Overseas Commerce (DGFT) mentioned in a notification.
Merchandise included within the ban are coach crews, machine screws, wooden screws, hook screws, and self-tapping screws.
India imported screws, bolts, nuts, washers and related articles value USD 827 million in 2022-23 and USD 468.15 million throughout April-October this fiscal.
These are imported from nations like France, China, Australia, Bangladesh, Brazil, and Belgium.
