ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Rules of OriginSubscribe to Rules of Origin

Rules of Origin and Changes in the Customs Law and Procedures

The article highlights the growing use of concepts like country of origin and rules of origin in the domain of international trade and how they have become increasingly relevant to India. In this context, it discusses the recent changes introduced in the Customs Act and rules, to prevent the misuse of the provisions of free trade agreements and protect the interests of the domestic industry, and their implications.

Union Budget and the Trade Sector

The Union Budget for 2020–21 emphasised the need to restrict imports. A number of measures were proposed to realise this objective. These include the use of tariffs and non-tariff measures, making Rules of Origin agreed upon in the free trade agreements work efficiently, and effective monitoring of imports and exports. The finance minister spoke of modifying import tariffs for creating a level playing field for micro, small and medium enterprises in several product sectors and using import tariffs to promote the domestic production of electric vehicles and mobile phones.
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