The Directorate General of Foreign Trade (DGFT) recently modified a policy due to which the import of TVs got restricted. Though it’s not a ban, the companies need to get a relevant license from the Indian government to proceed. Currently, 35% of the televisions sold in our country are imported and the regions are China, Malaysia, and Vietnam.
After the declaration of this restriction, Xiaomi India fully goes with it and says this move will boost the local manufacturing of televisions. This statement from Xiaomi is not surprising, as the company is manufacturing its TVs here from 2018. Along with that, 85% of the sets sold in our country are locally manufactured.
“Currently, over 85% of our Mi TVs sold in India are manufactured in India. We believe that this decision will encourage and give a boost to local manufacturing,” – a Xiaomi India spokesperson.
Maximum of the popular TV brands, available in India, already have manufacturing units here. SO, they will not get affected highly. But some of the companies who sell their products through e-commerce platforms will be effected surely.
In the fiscal year 2020, the total amount of imports that come under the restricted category was $781 million, among which $428.37 million is from Vietnam and $292.48 million is from China.
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