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India to streamline visa norms for foreign professionals in PLI sectors

Even as the government is working on streamlining visa norms for Chinese professionals in PLI sectors, the Department of Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh has said that plans are underway to extend streamlining of visas to non-PLI beneficiaries from foreign countries, including China, in PLI sectors.

Stating that case-by-case approval will be given on the removal of tariff barriers on electronic components, he said that duty inversion will have to be phased out eventually, and not just in the electronics sector.

As per the DPIIT Secretary, Tesla is yet to make a fresh enquiry after Elon Musk cancelled his visit to India earlier this year, the process of finalizing guidelines is underway by the Ministry of Heavy Industries, which is currently evaluating requests from not just Tesla. While he added that the e-commerce policy is on the anvil, there’s no clue yet when it will happen.

Stating that liberalization of the FDI (Foreign Direct Investment) regime under several sectors is currently in internal stages of consideration, he highlighted that the FDI from land border countries was anyway less than 1%.

With a base year change being considered for the Wholesale Price Index (WPI), the Secretary said that while some kind of updation can certainly be expected, he pointed to studies from other countries which indicate that a different base year is used for different types of indices.

The government has already discussed the PPI model with the MoSPI (Ministry of Statistics and Programme Implementation) and has showed it to the International Monetary Fund (IMF) too, and the model is for the National Statistical Commission (NSC) to see before the government takes a final call. CNBCTV18

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