Restrictions, such as tariffs and quotas, are commonly used to limit imports of non-essential goods. Higher tariffs make imported products more expensive, which can discourage their consumption and promote the purchase of domestic alternatives. Quotas establish a maximum limit on the quantity of a particular product that can be imported within a specified period, further controlling foreign competition.
Source:- decan HeraldPreferential Market Access (PLI) initiatives incentivize local production by offering tax breaks, subsidies, or other benefits to domestic manufacturers. This not only reduces the need for imports but also stimulates economic growth and job creation. Governments often implement PLI schemes in industries they want to prioritize for national development.
Source:-postal dostMandatory quality norms are essential to protect consumers and promote product safety. They set standards that imported and domestic products must meet. Ensuring that non-essential goods adhere to quality norms can deter the import of substandard or potentially harmful products, safeguarding public health and the environment.
In conclusion, restrictions, PLI schemes, and mandatory quality norms serve as effective tools to reduce the import of certain non-essential goods. These measures support local industries, foster economic growth, and ensure that the products available to consumers meet essential quality and safety standards. However, a careful balance must be struck between these measures and international trade agreements to avoid potential trade disputes and maintain global economic stability
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Restrictions, PLI, mandatory quality norms help cut import of certain non-essential goods
By tirupatinews
