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Imports of 35% sensitive items up
BS Economy Bureau in New Delhi |
July 24, 2003 10:58 IST
About 35 per cent of the 300 sensitive items witnessed higher imports in 2002-03, while the level remained the same in a majority of the items.
According to data provided by the directorate-general of foreign trade, higher imports were reported in 104 of the 300 tariff lines, while imports decreased in the case of 84 items and no change was registered in the remaining 116.
A majority of the items in which no change or lower imports were reported belonged to the agricultural sector, while industrial items bore the brunt of higher imports.
The data also revealed that no imports were reported in the case of 13 items, while imports were below Rs 1 lakh (Rs 100,000) in the case of 29 tariff lines and under Rs 5 lakh (Rs 500,000) for 43 products.
Crude palm oil was the largest item of import among the 300 sensitive items. Import of the product more than doubled to Rs 4,915 crore (Rs 49.15 billion) during 2002-03, against Rs 2,436 crore (Rs 24.36 billion) during the previous fiscal.
Soya crude was the second largest import item, estimated at Rs 2,035 crore (Rs 20.35 billion) during 2002-03, against Rs 1,871 crore (Rs 18.71 billion) in the previous fiscal, representing an increase of 8.76 per cent.
Raw cashew nut production soared by over 211 per cent to Rs 1,210 crore (Rs 12.10 billion) at the end of March 2003, against Rs 388 crore (Rs 3.88 billion) during 2001-02.
Commerce ministry officials said a large part of the import was processed and then re-exported after value-addition.
Foreign cotton of all staple length imports emerged as the fourth largest item of import among the 300 tariff lines, with imports estimated at Rs 1,188 crore (Rs 11.88 billion) during 2002-03, against Rs 2,042 crore (Rs 20.42 billion) in the previous fiscal.
Officials said big textile companies were importing the product because the length of the cloth produced in India was less.