Local refrigerator manufacturers to get a boost as government plans to restrict imports to promote Indian manufactured goods.
“India is considering restricting imports of refrigerators to promote local manufacturing. It is working to potentially freeze out shipments from Samsung Electronics Co and LG Electronics Inc in the USD 5 billion market”, as per Reuters source.
The government was considering mandating that importers seek a licence from the authorities, replacing the existing free-import regime.
That could be followed by a ban on imports of refrigerators with refrigerant already added, to create opportunities for value-added operations in India.
The move is in line with Prime Minister Narendra Modi’s “Make in India” programme to boost local manufacturing and discourage imports. KNN India