India restricts imports through quality control mechanisms.
We import more than we export.
Imports also include non-essential goods.
Such goods include low quality standards.
This wastes our hard-earned money.
Recognizing this, the Indian government took a new approach two years ago.
We import large quantities of toys from various countries.
Mostly we import from China.
An ordinance setting standards for such imported toys was issued two years ago.
Accordingly, the import of substandard toys stopped completely.
Overall toys import dropped by about 70%.
This saved a large amount of foreign exchange.
Now the central government intends to take a similar step for both electric fan and electronics smart pump.
Our last year fan import value was 132 million dollars.
The value of imported fan from China alone is 1330 million dollars.
Similarly, the value of electronic smart pump imports is 3.1 million dollars.
Through this, the import of these products is likely to decrease significantly in the coming period. At the same time, domestic producers of the same product are likely to benefit.
#exportbusiness #export
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