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  3. Govt likely to raise import duty on electronic goods outside WTO pact

Govt likely to raise import duty on electronic goods outside WTO pact

16 Sep 2013 Evaluate

In order to restrict rising imports of electronic products and to boost domestic industry as well as bring down the widening current account deficit (CAD), the government is looking to raise duties on electronic items, which are not covered by the duty-free Information Technology Agreement (ITA) of the World Trade Organisation.  In the previous fiscal, Indian electronics goods exports stood at $31 billion, which was around 7 per cent of total imports. Imports of electronics items have already crossed $10 billion mark in April to July period of current fiscal, despite various measures taken by the government to promote domestic industry.

As per the commerce department, efforts are continued to identify products that are not part of the IT Agreement (ITA) but have escaped higher duties, as the government has lost track over the years of electronic items that may not be part of the pact on account of several changes in the Import-Export Classification Code for products in India after WTO’s ITA. Information Technology Agreement, signed by 29 members including India and was implemented in 1996 and all signatories of the ITA agreed to eliminate duties on identified electronic products.

Meanwhile, the government looks concerned to check imports to bring down the CAD, which widened to a record high at 4.8% in the previous fiscal. Therefore, it recently set up a sub-committee of officials from the Revenue Department, the Commerce Department and the IT Ministry to examine the present classification of electronic items, including IT products, and trace them back to the 1996 classification to arrive at what products were actually covered originally by the pact. With the completion of process, the government will decide where it can increase import duties electronic products without violating WTO rules. 

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