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Top US Firms From Apple to Intel Decry India PC Import Curbs

 9 months ago
source link: https://finance.yahoo.com/news/top-us-firms-apple-intel-093424497.html
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Top US Firms From Apple to Intel Decry India PC Import Curbs

Sankalp Phartiyal
Fri, August 18, 2023, 6:34 PM GMT+9·2 min read
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(Bloomberg) -- A broad coalition of America’s largest businesses from Apple Inc. to Intel Corp. protested the abrupt way in which India introduced tech import restrictions this month, saying the surprise move will damage New Delhi’s ambitions to become a global manufacturing hub and harm consumers.

Most Read from Bloomberg

In a letter to US officials this week, eight American trade groups comprising the biggest players in technology and manufacturing asked the Department of Commerce, US Trade Representative and government more broadly to urge India to reconsider the policy. The South Asian nation plans to impose a new license requirement for tech imports from Nov. 1, spanning everything from laptops and tablets to servers and components for datacenters.

The move “could significantly disrupt trade, hamper efforts to more closely integrate India into global supply chains, and harm businesses and consumers in both countries,” the trade groups said in a joint memo reviewed by Bloomberg News. The licensing regime was initially implemented with immediate effect earlier this month, before authorities allowed a three-month reprieve to let companies obtain the required licensing.

Read more: India Delays Shock Move to Curb Imports of Laptops, Tablets

It comes on the eve of a marquee business gathering in New Delhi that will cap off the final days of India’s G20 presidency. The term has been highlighted by a global tour by Prime Minister Narendra Modi, who’s sought to expand bilateral trade relations with the US, France and others. He was warmly received in Washington in June and found a willing partner for deepening ties in President Joe Biden.

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