Govt imposes ban on imports of cheap screws

The government has prohibited the import of specific screws priced below Rs 129 per kg to boost local manufacturing. The Directorate General of Foreign Trade (DGFT) revised the import policy, making screws below this price threshold prohibited, except when their CIF value exceeds Rs 129 per kg. The banned screws include various types such as coach, machine, wood, hook, and self-tapping screws. India imported screws and similar items worth USD 827 million in 2022-23 and USD 468.15 million from April to October this fiscal year, originating from countries like France, China, Australia, Bangladesh, Brazil, and Belgium.

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