Decision on import management system for IT hardware products post-Sep after evaluating data
According to reports, the government will assess the import data and make a decision on the current import management system for specific IT hardware goods, like laptops and tablets, after September.
India implemented an import management system in October of last year, requiring importers of these products to obtain government authorization.
The system’s goal is to monitor computer, tablet, and laptop shipments into the country without affecting market supply or imposing excessive licensing requirements. Importers may apply for multiple authorizations, and if granted, they will remain in effect until September 30, 2024.
Editor’s Note: This is as part of our effort to follow in licensing of import of IT products. The Indian government is set to review and decide on the import management system for specific IT hardware products, such as laptops and tablets, based on post-September import data. The system, implemented in October of the previous year, mandates importers to obtain government authorization. Importers can apply for multiple authorizations, valid until September 30, 2024. The decision-making process will be informed by the assessment of import data to strike a balance between regulatory control and market efficiency.
Rupee has surpassed Asian currencies, reaching a four-month high
The rupee began 2024 as an outperformer among Asia-Pacific currencies, closing at its highest level in four months on Friday. This was due to US dollar flows that came in ahead of India’s inclusion in global bond indices, as well as an optimistic outlook on GDP growth that enhanced the country’s appeal.
According to Bloomberg data, the rupee has increased by 0.4% so far in January. On Friday, it closed at 82.92/USD 1, which is its highest closing level since September 12, 2023. The rupee, according to Bloomberg statistics, finished at 83.03/USD 1 in 2023. The rupee fell 0.6% in 2023 on a closing basis, finishing at 83.03/USD 1 on Thursday. on Thursday had a closing basis decline of 0.6% in 2023.
Gujarat has set a 2030 deadline for producing 3 MMPTA of green hydrogen
Speaking at the 10th Vibrant Gujarat summit on Friday morning, Gujarat Chief Minister Bhupendra Patel announced the state’s mission to produce green hydrogen. The state has set a target of producing 3 million metric tons per annum (MMPTA) of green hydrogen by 2030 and has set aside two lakh hectares of land for this purpose.
Estimates from the state government indicate that by 2030, the state will need to invest $20–25 billion to build just 1 MMTPA of green hydrogen production.
This project will install 20–30 GW of installed renewable energy capacity in addition to 8–10 GW of electrolyser capacity, which will cost more than INR 45,000 crore.
https://connectgujarat.com/gujarat/gujarat-aims-produce-3mmtpa-of-green-hydrogen-by-2030-1515052
Editor’s Note: With the introduction of the National Hydrogen Mission and a clear emphasis on integrating green hydrogen production with abundant solar and wind resources, India has created an attractive environment for international players. The government’s encouragement of public-private partnerships and collaborative initiatives aligns with the interests of foreign companies looking to capitalize on India’s commitment to sustainability.
Tax clouds for emerging manufacturers as the sunset period draws closer
India Inc is anticipating word on whether the sunset period for businesses establishing greenfield manufacturing plants to benefit from the 15% concessional tax rate will be extended.
According to reports, a number of industry associations have petitioned the Finance Ministry for clarification on the issues impacting the scheme as well as a longer three-year extension to the concessional tax system, which expires on March 31 of this year. It’s uncertain if the interim budget, which will be presented next month, will offer clarification.
Editor’s Note: India Inc awaits clarity on the extension of the sunset period for greenfield manufacturing plants to avail the 15% concessional tax rate. Industry associations have petitioned the Finance Ministry for both clarification on scheme-related issues and a three-year extension beyond the current expiration on March 31. The uncertainty persists as to whether the upcoming interim budget will address these concerns. This development raises anticipation and concerns within the business community regarding the potential impact on emerging manufacturers.
DoT issues extensive regulations and allows all entities to register for WPAN/WLAN and M2M
All entities are now eligible to register for Wireless Personal Area Networks (WPAN/WLAN), Machine-to-Machine (M2M), and Wireless Local Area Networks (WPAN/WLAN) through the Department of Telecommunications (DoT).
According to the DoT, failure to comply may result in the removal or disconnecting of telecom resources that were acquired from licensed telecom licensees.
Therefore, it stated that all business entities involved in providing M2M services and WPAN/WLAN connectivity, including companies, government departments, organisations, partnership firms, LLPs, institutions, undertakings, proprietorship firms, societies, and trusts, are encouraged to register with DoT “through a simple and transparent online process” via the SaralSanchar portal.
Editor’s Note: The Department of Telecommunications (DoT) has issued comprehensive regulations, permitting all entities, including businesses, government departments, and organizations, to register for Wireless Personal Area Networks (WPAN/WLAN) and Machine-to-Machine (M2M) services through a simplified online process on the SaralSanchar portal. The DoT emphasizes that non-compliance may lead to the removal or disconnection of telecom resources acquired from licensed telecom licensees, urging eligible entities to complete the registration to ensure regulatory adherence.
New BIS norms speed up compliance procedure for IT hardware and electronics companies
According to statements from an industry association, the recent guidelines from the Bureau of Indian Standards (BIS) for the implementation of parallel testing of electronics and IT hardware products might result in significant time savings in the compliance process, ranging from 4 to 13 weeks. On January 9, the BIS established the simultaneous testing pilot project as a permanent feature, including 64 products under the Compulsory Registration Scheme (CRS).
In contrast to the traditional sequential testing approach, manufacturers can now choose to freely implement parallel testing, which speeds up the go-to-market strategy and simplifies compliance.
The industry association MAIT’s director general, Suhail Zaidi, stressed that this voluntary adoption improves business efficiency and allows enterprises to launch cutting-edge products faster for customers.
Editor’s Note: New Bureau of Indian Standards (BIS) guidelines allowing parallel testing for electronics and IT hardware products are expected to streamline compliance procedures, potentially reducing the time required by 4 to 13 weeks. The permanent inclusion of the simultaneous testing pilot project for 64 products under the Compulsory Registration Scheme (CRS) enables manufacturers to choose parallel testing over the traditional sequential approach, enhancing business efficiency and facilitating faster launches of cutting-edge products for consumers.