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Govt bans screw imports priced less than Rs 129 per kg
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screws, the government on Wednesday prohibited the imports of certain kinds of screws- priced lower than Rs 129 per kg.
“The import policy of screws...is revised from free to prohibited.
However, import shall be free if CIF (cost, insurance, freight) value is Rs 129 or above per kg,” the Directorate General of Foreign Trade (DGFT) said in a notification.
The ban is imposed on coach crews, machine screws, wood screws, hook screws, and self-tapping screws.
India imported screws, bolts, nuts, washers and similar articles worth $468.15 million during April-October FY24 and $827 million in entire FY23 mostly from France, China, Belgium, Australia, Bangladesh and Brazil.
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