IMPORT POLICY

Chimera of Export Growth THE Import-Export Policy for 1983-84, despite its platitudes of being export-oriented, import saving, growth-oriented, etc, contains a mix of encouraging as well as disturbing features. The really encouraging features of the policy are relatively few. A wel- come development of some importance relates to the extension of the arrangement for prior registration of import contracts of OGL items such as PVC resin, soda ash, raw wool and woollen rags, caustic soda, rayon grade wood pulp and varieties of synthetic rubber in addition to the already covered commodities like man-made fibres and yarn. This system of registration is expected to help in "proper monitoring of OGL imports" so that dumping of these items and consequent adverse impact on the domestic competitors can be avoided. The success of the scheme will depend on the efficacy of proper follow- up mechanisms. Since man-made fibres were already subject to such a mechanism last year and yet domestic man-made fibre manufacturers complained about dumping by foreigners one should watch the actual developments with a sense of scepticism.