Indian Government to Restrict Imports of Over Five Years Old Used Plant & Machines

A meeting of the Committee of Secretaries (COS) under the chairmanship of Cabinet Secretary was held regarding promotion of domestic capital goods industry and which inter-alia reviewed the import policy of used/ second hand capital goods and machineries and their impact on the domestic capital goods industry. The Committee consisted of Secretaries of the Department of Commerce; Department of Industrial Policy & Promotion, Department of Revenue; Planning Commission; Department of Heavy Industry; Ministry of Food Processing Industries. Besides above, other Ministries represented in the meeting were Environment & Forests; Textiles; Micro, Small & Medium Enterprises; Department of Economic Affairs, Directorate General of Foreign Trade (DGFT) and National Manufacturing Competitive Council (NMCC).

Based on the recommendations of the COS, Government has decided not to allow import of machinery more than five years old unless a different maximum age is specified by……

Read full story at: http://www.plantbee.com/blog/post/indian-government-to-restrict-imports-of-over-five-years-old-used-plant-machines-/

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