There may be a ban on the import of refrigerators to promote Make in India, the government is considering

The Government of India is considering banning the import of refrigerators to promote Make in India. In fact, foreign companies like Samsung and LG import a large number of refrigerators. It is believed that the government may make it necessary to take a license to import. At present, companies import refrigerators under the Free-Import Regime, which the government is contemplating to change. It is believed that a decision can be taken on this soon.

Efforts to promote domestic manufacturing
India’s refrigerator market is close to $ 5 billion i.e. Rs 40,000 crore annually. Apart from domestic companies like Voltas, Godrej is present in this sector. At the same time, foreign companies like LG and Samsung have a big dominance in this sector. India has the capacity to manufacture 24 million refrigerators annually. But there is a demand of only 15 million out of which a large number of companies import and fulfill it. Of the refrigerator sales in India, 5 to 6 percent is met by imports.

Make in India will get a boost
Companies like LG and Samsung meet the demand for large and high end refrigerators through imports. It is believed that banning the import of refrigerators will give a boost to the Make in India mission of the Modi government. Let us tell you that before this, the government has also imposed restrictions on the import of air conditioners and televisions. If the Modi government bans the import of refrigerators, then it will benefit domestic manufacturing companies.