New legislation to prevent import surge in budget session -- Maran
ENS ECONOMIC BUREAU

New Delhi, Feb 15: With the deadline for removing quantitative restrictions on imports coming closer, the government is getting prepared to bring in a suitable legislation in the ensuing session of the Parliament to safeguard the interests of domestic industry against any surge in imports.

For this a meeting with the chief secretaries and concerned officials of the state governments will be held soon, commerce and industry minister Murasoli Maran informed the ministry's Parliamentary Consultative Committee meeting here today.

``While necessary tariff measures will be taken, we would also see to it that standards applicable to domestic products are also extended to imports. All these steps will be well within the parameters of national treatment. We have enough instruments at our disposal to deal with any unhealthy or unwanted increase in imports for which a suitable legislation will be brought in the ensuing session of the Parliament,'' Maran added.

A nodal officer from the ministry of commerce will be appointed soon to facilitate interaction between the states and the Union on WTO and export related matters. Members across party lines urged the government to take all possible steps to protect farmers' interests after the removal of QRs. The minister said the interests of farmers would be fully safeguarded and ``we will not allow the Indian market to be dumped with imported goods''.

Maran agreed with views expressed by members that there was need to take a long-term view of the likely impact of the phase-out of QRs, even though there might not be any immediate surge. Members urged the government to promote opportunities for agro exports from India including plantation items like natural rubber. The ministry has also requested the finance ministry to make a sizeable allocation in the forthcoming budget for creation of export-related infrastructure by the states.

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