Better standards can reduce imports: Nirmala Sitharaman
There is a “desperate need” for India to set up proper standards for goods as high tariffs and restrictions are not enough to rein in “undesirable imports”, commerce and industry minister Nirmala Sitharaman said on Thursday.
The Bureau of Indian Standards (BIS) needs to expedite the process of setting up these standards because a legitimate tool to stop such imports does not exist in the country, she said.
“BIS will have to do the catching up. Standa-rds are being set up every where. We need standards,” she said.
These remarks assu-mes significance amid concerns being raised by the domestic industry on rising imports of sub-standard quality products from countries like China.
Although a few sectors such as pharmaceuticals have set up high standards for themselves, other sectors have yet to follow suit, she said.
High tariffs or putting quantitative restrictio-ns would not be of much help to domestic industries, the minister added.