Countries like China are going to suffer a lot due to this decision of the Modi Government. They export hundreds of crores of color TVs to India every year. The share of the Chinese brand in the Indian television market was continuously increasing. But this decision of the government will give a boost to local manufacturers.
Many Actions Against China so Far
After the Galvan Valley incident, India is moving rapidly towards economic action against China. Two decades later, the ban on color TV imports is a major step in this direction. Earlier, the government had banned the entry of Chinese companies in government procurement. Meaning, Chinese companies cannot participate in the bid in any kind of government procurement on behalf of the central and state government. FDI rules coming from China have also been changed.
2100 Million Imports from China
India imports thousands of crores of color TVs every year. China’s share in this is very high and gradually its market share was increasing. FY 2019-20 India imported color TVs valued at $ 781 million (approx. 5800 crores, as per present value). Of this, $ 42.8 million (about Rs 3100 crore) came from Vietnam and $ 293 million (about Rs 2100 crore) from China. Panasonic India President and CEO Manish Sharma responded by saying that high quality assembled TV sets will now be available to consumers.
Clearance from DGFT Required
Regarding the ban on TV imports, the Directorate General of Foreign Trade (DGFT) said in a notification that the import policy of color television has been put in the restricted category. In such a case, TVs cannot be imported without DGFT approval. DGFT comes under the Ministry of Commerce.
India Imports TV from these Countries
This import ban is a color television set with screen sizes ranging from 36 centimeters to 105 centimeters, as well as LCD television sets with screen sizes of less than 63 centimeters. Major countries exporting TV to India include China, Vietnam, Malaysia, Hong Kong, Korea, Indonesia, Thailand and Germany.