India, a significant importer of marble, has recently changed its import rules for marble from Bhutan. The new rules will require all marble imports from Bhutan to be accompanied by a certificate of origin from the Bhutanese government.
India altered its Import Regulations for Bhutanese marble
Last month, India signed an MoU with Bhutan for the supply of cement for road development and altered its policy to allow 10,000 tonnes of marble from Bhutan each year, with no minimum import price, which is likely to benefit the kingdom's marble business.
Before King Jigme Khesar Namgyel Wangchuck's critical visit, India offered assistance in strengthening Bhutan's infrastructure and backing the country's marble industry. Last month, India signed an MoU with Bhutan for the supply of cement for road development and altered its policy to allow 10,000 tonnes of marble from Bhutan each year, with no minimum import price, which is likely to benefit the kingdom's marble business.
The king spoke with Indian business leaders and explored new options for expanding economic and commercial connections during his three-day tour, according to a joint statement issued at the end of the visit. India promised to take Bhutan's request for financial help and marketing of its forthcoming hydropower projects into account. The India-Bhutan energy relationship has been expanded to include non-hydro renewables including solar and wind energy, as well as green efforts for e-mobility.
On hydropower collaboration between Bhutan, Bangladesh, and India, all parties emphasized commitment to expand sub-regional cooperation, including in the energy sector, during the king's visit, which would lead to more inter-linkages across economies for the benefit of all stakeholders. They also committed to strengthening their relationship in space technology by quickly finalizing a shared plan of action.
Why India Changed Import Rules for Marbles?
This move has been seen as a measure to curb the influx of cheaper, lower-quality marble from countries like China, which has been flooding the Indian market in recent years. Bhutanese marble, on the other hand, is known for its high quality and is widely used in the construction and interior design industries. The new rules were announced by India's Directorate General of Foreign Trade (DGFT) in February 2023 and will take effect from April 1, 2023. The certificate of origin will have to be issued by the Bhutanese government and will include details of the origin, quality, and quantity of the marble being exported.
The move has been welcomed by the Bhutanese government, which sees it as a recognition of the quality of its marble industry. In a statement, the Bhutanese Ministry of Economic Affairs said that the new rules will "provide a level playing field for Bhutanese marble exporters and will help to promote the export of high-quality marble from Bhutan."
The Indian government has also been supportive of the move, with officials saying that it will help to protect the domestic marble industry and promote the use of high-quality marble in the construction sector.
New Rules for Marble Imports from Bhutan
The Indian marble industry has been facing stiff competition from cheaper imports from China and other countries. The low-quality marble from these countries is often used for low-end projects, such as flooring in budget hotels and commercial buildings. This has resulted in a decline in demand for Indian marble, known for its high quality and used in high-end construction projects.
The new rules are expected to give a boost to the Indian marble industry, which has been struggling in recent years. According to Bhutan Import data, the demand for high-quality marble is expected to rise in the coming years, as the Indian construction sector is expected to grow rapidly and the imports and exports significantly affected the country's growth in several ways.
The Indian government has also been taking steps to promote the use of domestic marble in the construction sector. In 2016, the government launched the "Make in India" campaign, which aims to promote domestic manufacturing and reduce dependence on imports. As part of this campaign, the government has been providing incentives to the domestic marble industry, such as tax breaks and subsidies.
The new rules for marble imports from Bhutan are also in line with the Indian government's efforts to promote the use of sustainable materials in the construction sector. Marble is a natural stone and is considered to be a sustainable material, as it is durable, long-lasting, and can be recycled. By promoting the use of high-quality marble from Bhutan, the Indian government is encouraging the use of sustainable materials in the construction sector.
Conclusion
However, there are some concerns about the new rules. Some industry experts have raised concerns about the cost and time required to obtain the certificate of origin from the Bhutanese government. They fear that this may lead to delays and higher costs for importers, which could affect the competitiveness of Bhutanese marble in the Indian market.
Another concern is that the new rules may lead to a reduction in the volume of marble exports from Bhutan to India. This could affect the economy of Bhutan, which is heavily dependent on exports. However, the Bhutanese government has said that it is working to address these concerns and is committed to ensuring that the new rules do not affect the country's economy.
In conclusion, the new rules for marble imports from Bhutan are a welcome move by the Indian government. They will help to promote the use of high-quality, sustainable materials in the construction sector and will provide a level playing field for Bhutanese marble exporters. However, there are some concerns about Bhutan Import data, if you have any related query talk to EximPedia professionals to obtain the best India Trade data at only one single platform.
