Negative import list
- August 10, 2020
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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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.