The Economic Times
English EditionEnglish Editionहिन्दी
| E-Paper
Search
+

    Samsung India gets TV import license, can now retrieve 1 lakh TVs stuck in ports

    Synopsis

    The import license, just ahead of the crucial Diwali festive shopping period, will help the Korean giant to bolster its inventory level in retail stores many of whom had no stock of Samsung TV.

    AFP
    Samsung would restart its TV plant in Chennai by December and had sought import license to ensure that it can continue import till then
    KOLKATA: Samsung, India's largest television brand by market share, has received the import license from the government for televisions which will enable it to clear almost one lakh units of LED TV which were stuck in Indian ports.

    Two senior industry executives said the import license, just ahead of the crucial Diwali festive shopping period, will help the Korean giant to bolster its inventory level in retail stores many of whom had no stock of Samsung TV.

    Samsung TVs, mostly 55 inch and above including flagship models like QLED and other lifestyle televisions such as Frame and Serif were stuck at various ports across the country in absence of the import license.

    The government had put television sets on the restricted list of imports for the first time in 20 years on July 30. This is part of the government’s self-reliant or ‘Atmanirbhar Bharat’ vision and to discourage imports from China with whom relations have soured due to border tensions earlier this year. As a result, manufacturers will have to seek import licenses.

    Samsung has been importing its televisions mostly from Vietnam though it has last month written to the government that it would restart its TV plant in Chennai by December and had sought import license to ensure that it can continue import till then and boost its supply chain for the festive season.

    There has been a shortage of TV supplies in October as the government did not grant any subsequent import license to companies like Samsung. It had earlier provided one license which had then allowed Samsung to clear around 50,000 units.

    An email sent to Samsung India remained unanswered till filing of the story. ET will update the story once Samsung responds.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Also Read

    20 Comments on this Story

    dipi ti26 days ago
    Samsung gave lots of Party Funds immune to IT Scrutiny as per law made by this Govt. and to PM Cares which is immune to RTI. Top class polished cheats. Will get the return of the deeds. AtmaNirbhar Bharat promo, Made in Chine Statue, Made in Korea TV
    Hindi new songs Matkar28 days ago
    Alongwith import license, Samsung should also be compelled to make high end products in India. Then it will benefit India.
    Kochar Bipin28 days ago
    Government should have taken a commitment from Samsung to export an equal value of production over next two years
    The Economic Times