India will allow imports of tech hardware such as laptops and tablets into the country without a mandatory license, softening curbs it had previously planned to impose.
(Bloomberg) — Sign up for the India Edition newsletter by Menaka Doshi – an insider’s guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.
India will allow imports of tech hardware such as laptops and tablets into the country without a mandatory license, softening curbs it had previously planned to impose.
The country’s trade regulator in August indicated it would effectively ban tech imports without a license starting Nov. 1, creating new compliance headaches for some of the world’s biggest technology companies such as Apple Inc., HP Inc. and Samsung Electronics Co. Ltd.
But the Directorate General of Foreign Trade said Thursday that companies could bring in shipments without restrictions under a so-called import management system, confirming a Bloomberg News report from Sept. 25. The system will go into effect Nov. 1.
Under the new plan, tech importers will need to register for the import management system, and authorizations, based on the value of shipments, will be valid until the end of September 2024, the trade agency said.
The change to import rules is part of Prime Minister Narendra Modi’s ambition to boost local production in India, while trying to ensure sufficient availability of consumer electronics.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.