21-May-2026
Markets and Finance
 
India reviews curbs on non-essential imports to support rupee, boost local manufacturing
20-May-2026

The government is reviewing imports of non-essential items and goods where import dependence is low, among other measures to curtail the country's import bill and encourage domestic capacity creation, officials privy to the matter said. This is likely to be discussed at an interministerial meeting on the West Asia crisis scheduled next week. If necessary, the government can impose higher duties or selective restrictions to curb such imports. India's merchandise trade deficit widened to $28.4 billion in April, from $20.7 billion in March, adding to balance of payments concerns amid portfolio outflows and tepid foreign direct investment.

News Source:- https://m.economictimes.com/news/economy/foreign-trade/india-reviews-curbs-on-non-essential-imports-to-support-rupee-boost-local-manufacturing/amp_articleshow/131209668.cms