Govt imposes curbs on import of certain pneumatic tyres_Govt imposes curbs on import of certain pneumatic tyres

Govt imposes curbs on import of certain pneumatic tyres

May 30, 2024

Until then, the import of these tires was allowed without any restrictions.

NEW DELHI: The government on Friday imposed import restrictions on some new pneumatic tires for cars, buses, trucks and motorcycles to boost domestic manufacturing.

Directorate General of Foreign Trade (DGFT) “The import policy on new pneumatic tires has been adjusted from liberal to restrictive,” the notification said

The classification of the product as restricted means that importers will now have to obtain an import license or a permit from the DGFTT.

Previously, there were no restrictions on the import of these tires.

The decision is significant because domestic tire makers have been demanding restrictions on imports. The industry has repeatedly expressed concerns about increased tire imports from China and other countries.

This restriction applies to touring, racing, scooter, porous polyurethane tubeless tires and bicycles.

Imports of these tires are valued at $260.72 million from April 2019 to February 2020 and $330.72 million in 2018-2019.

The government is taking steps to promote domestic manufacturing and reduce imports of non-essential goods. In 2019-20, the country’s imports declined by about 10% to $467 billion.

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