Maran for opening up electronic toys to large firms

The minister also announced that his ministry has recommended to the finance ministry that big players be permitted to enter sectors like electronic toys, currently reserved for small scale industries (SSIs), to take on China, which has near global monopoly currently.

Maran allayed fears that the new Exim policy would hurt SSIs, arguing that of the 812 items reserved for SSIs only 58 have been opened up this year.

Regarding lifting quantitative restrictions (QIs) on 714 fresh items, he explained it was an ongoing process of international obligations to which India was a signatory under the WTO since 1947 and GATT since 1994. This year’s figure was less than previous year’s.

For checking unfair trade practices, he said, India would have to be on constant vigil and, when needed, the country would levy anti-dumping or counterveiling duties.

He dismissed the notion that it takes a long time to settle anti-dumping cases in the quasi-judicial courts.

Reacting to criticism in certain section of the press about India opening the floodgates to consumer goods, Maran said, the restrictions have been lifted on luxury goods which only a minuscule section of the population were anyhow buying at Dubai and elsewhere, contributing to the exchequers of other countries.

Maran said his ministry was aiming at a 20 per growth rate in exports in the new financial year as against the expected 11.3 per cent growth in the previous fiscal. He refused to fix any target for restricting imports.