In a bid to protect domestic industry and boost the economy, Commerce Secretary Anup Wadhawan has said that India will impose imports duties within the World Trade Organisation (WTO) norms. He said ‘we will use those options to further our interests', whether it is to develop our own economy or to protect our consumers from sub-standard products or whether to regulate some products in public interest. So, certainly those options will be exercised.’
Wadhawan stated that as far as tariff policy is concerned, India is a developing economy and it has the right under the WTO to use tariff within the bound rates. He noted that bound duty rates are tariffs over which a WTO member country cannot hike the customs duties. He said ‘developing country's infant industries' need protection. Our bound (duty rates) in the WTO have been shaped in that philosophy. We will certainly use.’
The secretary further said that these are policy instruments in the hands of policymakers and there are several concerns as far as imports are concerned. He noted that one concern is public safety and health, sub-standard products getting imported, which can harm consumers. He added that the government is taking steps put in place standards for goods to protect consumers' interest.