Negative import list

  • August 10, 2020
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
No Comments

Subject: Economy

Context:

Defence Minister has announced a list of 101 items that the Defence Ministry will stop importing

Concept:

  • Items in negative list cannot be imported.
  • India has been among the top three defence importers in the world
  • So the government wants to reduce the dependence on imported items in defence and give a shot in the arm to the domestic defence manufacturing industry.
  • By denying the possibility of importing the items on the negative list, the domestic industry is given the opportunity to step up and manufacture them for the needs of the forces.
  • As per Stockholm International Peace Research Institute, which tracks defence exports and imports globally, India has been the second largest importer between 2014 and 2019 with US$ 16.75 billion worth of imports during this period.
economy Negative import list