India Returning to Protectionist Policies
VANCOUVER - Sep 24/14 - SNS -- The Indian government has signalled its intention to return to protectionist policies aimed at discouraging imports to help boost domestic pulse production.
Deeming pulses one of nine "inessential commodities" with respect to imports, the government is expected to reinstate import duties on pulses. The goal is to raise the landed price in the hope that it will discourage imports and raise returns to farmers, thereby encouraging expanded production. The current zero import policy on pulses ends on September 30.
Commodities deemed inessential include: pulses, edible oil, fresh fruits, cashew, sugar, alcoholic beverages, processed and packaged items, cocoa products and sesame seeds. The changes are consistent with Prime Minister Narendra Modi's "Make in India" initiative, which was outlined in his Independence Day speech.
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