The number of India’s imports of electronic hardware products from partners in existing Free Trade Agreements (FTA), including ASEAN, after India tightened its rules of origin by requiring additional documents other than the Certificate of Origin (COO) to enjoy preferential tariffs decline.
This is India’s action after the country’s domestic industry continued to report that Chinese products entering the Indian market through ASEAN violated the rules of origin.
The results of the trade data study show that imports of goods such as telephone antennas, cordless phones, cell towers, headsets and digital video cameras will decline significantly in 2021, with the import value of telephone antennas falling from US$1.37 billion in 2019 to 5.76 billion in 2021. $98 million in 2021, down from $162 million in 2020 for digital cameras.
George Paul, chief executive of the Indian Information Technology Manufacturers Association, said the main challenge facing the industry is related to the ASEAN Free Trade Agreement, through which India imports a large amount of electronic products. Lower imports benefit Indian industry.