India is set to introduce a new “Import Management System” for specific IT hardware imports starting in November, reported news agency Reuters quoting officials from the trade ministry.
According to the trade officials, this new system will establish an end-to-end digital authorisation process for select IT hardware imports.
Under this system, import authorisations will be issued in an end-to-end format to facilitate customs clearance, and these authorisations will remain valid until September 30, 2024.
After extensive consultations with the industry, the Ministry of Electronics and Information Technology (MEITY) is launching a fresh import authorisation and management portal.
The Directorate General of Foreign Trade (DGFT) in India said this initiative aims to establish a clear database of select IT imports and facilitate monitoring.
Moreover, S Krishnan, Secretary of the Ministry of Electronics and Information Technology emphasized the critical role of cybersecurity in an increasingly rapidly growing economy.