Pulses importers landed in problem as govt-issued order restricting the import
Importers of pulses grains have landed in a problem after the government issued an order last Friday restricting the import of moong beans with immediate impact. Previously, moong bean imports were permitted under the ‘free’ category if the bill of lading was issued by March 31, 2022, and customs clearance was completed by June 30, 2022.
Bimal Kothari, vice chairman of the India Pulses and Grains Association (IPGA), commented on the government’s new stance, saying, ‘Based on the ‘free’ import policy, Indian market players have gone into enforceable contractual commitments for the import of moong from other countries into India.’ Only two months ago, the Indian government approved the ‘free’ entry of moong, but that policy has suddenly been reversed overnight. We want the government, on behalf of all market participants, to review the notification prohibiting imports and to restore the ‘free’ import policy.’
‘Frequent policy changes impose a significant financial burden on Indian market players and create uncertainty for overseas rivals. Such reforms are detrimental to foreign trade and contradict India’s ‘Ease of Doing Business’ goal. As a result, we urge the government to provide the market appropriate advance warning before implementing new regulations that may jeopardize current trade obligations’ Kothari continued.
‘We are requesting that the Union Ministry of Commerce and Industry remove this announcement since Indian importers have contracted shipments that are now en route to Indian ports. If these cargoes are not permitted to be imported, it would cause enormous financial difficulty for Indian enterprises as well as market instability’ He stated.