14 February 2022, New Delhi: The Ministry of Commerce and Industry on 11th February 2022 released a Gazette Notification restricting import of Moong Beans with immediate effect. Previously, the import of Moong Beans was allowed under the “free” category subject to the Bill of Lading being issued by 31st March 2022 and customs clearance by 30th June 2022.
Mr. Bimal Kothari, Vice Chairman, India Pulses and Grains Association (IPGA) said, “Based on the “free” import policy, Indian market participants entered into binding contractual obligations for the import of Moong from other countries into India.
It was barely two months ago, as of 20th December 2021, that the Government of India allowed the “free” import of Moong, and has now changed that policy overnight. On behalf of all market players, we request the Government of India to reconsider the Notification Restricting Import and reinstate the “free” import policy.
Frequent policy changes create immense financial hardship for Indian market participants, and uncertainty for international counterparts. Such changes are counterproductive for international trade and inconsistent with India’s “Ease of Doing Business” objective.
Consequently, we request the Government to provide reasonable advance notice to the market before introducing new policies that can hamper existing trade commitments.
“We are making representation to the Ministry of Commerce & Industry to withdraw this Notification, as Indian importers have contracted cargoes which are presently in transit to Indian ports”, mentioned Mr. Kothari. If these cargoes are not allowed to be imported, it will create immense financial hardship to Indian companies and chaos in the market.”