The Hindu Business Line : Sensitive items imports growth slows to 16% in April

Snapshot
Imports of edible oil, cotton and silk, fruits and vegetables (including nuts), products of small scale industries, spices and marble and granite have declined.
Import of sensitive items from Indonesia, Thailand, Germany, Japan, Pakistan, Bhutan, United Arab Emirates have gone up.

Our Bureau

New Delhi, July 3

Even as the country’s overall import growth was in double digits with the rupee appreciating against the dollar and rendering imports relatively cheaper, the growth in the total import of sensitive items being monitored by the Commerce Ministry has shown a decrease of close to 16 per cent at Rs 1,118 crore in April 2007, against Rs 1,328 crore in April 2006.

An official release issued here said that while the gross import of all commodities during the same period of the current year was Rs 17,635 crore compared with Rs 12,535 crore during the corresponding period last year, import of sensitive items constitute 10.6 per cent and 6.3 per cent of the gross imports during last year and current year, respectively.

Imports of edible oil, cotton and silk, fruits and vegetables (including nuts), products of small scale industries, spices and marble and granite have declined during the period. Import of items such automobiles, rubber, alcoholic beverages and milk and milk products have, on the other hand, showed increase during the period under review. While import of automobiles has increased from Rs 50.42 crore in April 2006 to Rs 77.45 crore in April 2007, import of milk and milk products has escalated by a hefty 153 per cent from Rs 0.61 crore in April 2006 to Rs 1.54 crore in April 2007.

In the edible oil segment, the import has declined from Rs 810 crore last year to Rs 625 crore this April, with import of both crude oil and refined oil having gone down by 23 per cent and 21.1 per cent, respectively. The fall in edible oil import is mainly due to marked decrease in import of soyabean and its fractions (crude) which have gone down by 62 per cent.

While import of sensitive items from Indonesia, Thailand, Germany, Japan, Pakistan, Bhutan, United Arab Emirates have gone up, the increase in automobile import during the period under review also reflects the concern voiced by domestic auto industry about the adverse fallout of the India-Thailand Free Tree Agreement (FTA) of early harvest products. Imports from Argentina, China, the US, Malaysia, Egypt and Sri Lanka have, however, shown a decline.

In a separate press statement, the Union Commerce & Industry Minister, Mr Kamal Nath, has contended that the recent decision of the US Government to end the Generalised System of Preferences (GSP) for duty-free entry of gold jewellery and brass lamps from India could lead to a number of jobs being lost in the jewellery sector.

“GSP is a unilateral programme of the US Government and is not a result of negotiations with GSP beneficiaries. Hence, it is up to the US Government to decide on how it wishes to administer the programme. However, the decision is likely to lead to a number of jobs being lost in the jewellery sector in India, especially among the vulnerable groups of society,” he said.

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