Paytm CEO Vijay Shekhar Sharma on Thursday has backed the government on its decision to impose import restrictions on laptops, tablets, and certain types of computers with immediate effect.
Sharma added that India must make payment acceptance devices in India and build disincentives for such imports.
In a tweet, Sharma said, "India must lead the way in making payment acceptance devices in India and build disincentives for such imports. Time for #MakeInIndia the payment equipment like soundbox. Pride of our country UPI deserves full stack India innovation."
Extending this ==> India must lead the way in making payment acceptance devices in India and build disincentives for such imports.
August 3, 2023
Time for #MakeInIndia the payment equipment like soundbox.
Pride of our country UPI deserves full stack India innovation. 🚀 https://t.co/txoMQp3nQMIn another tweet, Sharma responded to a user who said that we can compete with the market from which computers are imported and also praised Paytm soundbox as a "fantastic innovation." Sharma agreed and said that there is also a level playing issue involved.
AdvertisementTotally agree !
August 3, 2023
That's why, we make Pay soundbox in India and there is obviously level playing field issue with dumping cheap imports.India imposes import restrictions on laptops, tablets
The government on Thursday imposed import restrictions on laptops, tablets, and certain types of computers with immediate effect. Importers of these items would now have to seek permission or license from the government for their inbound shipments.
AdvertisementThe restrictions are also there on microcomputers, large or mainframe computers, and certain data processing machines. Import of all these items would be allowed against a valid license.
According to a report by the think-tank Global Trade Research Initiative (GTRI), India's 65 percent imports from China are limited to just three product groups - electronics, machinery, and organic chemicals. The report also said that India is dependent on China for day-to-day use and industrial products like mobile phones, laptops, components, solar cell modules, and ICs.
Hence, the government has taken several steps to boost domestic manufacturing of electronic items such as rolling out the production-linked incentive scheme and increasing customs duties on the number of electronic components.
Some of the electronic brands which are sold in the market are HCL, Samsung, Dell, LG Electronics, Acer, Apple, Lenovo, and HP.
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