GoI lifts ban on PPE exports; monthly quota set as 5 million units
On June 29, 2020, the Government of India lifted the ban on export of Personal Protective Equipment (PPE). Also, it has fixed a monthly quota of 5 million units.
The Ministry of Commerce has enforced a new rule along side lifting the ban on PPE exports. According to the new rule, an enterprise or a firm applying for PPE export should be a manufacturer of PPE.
According to the Apparel Export Promotion Council (APEC), India has now become self sufficient in manufacturing PPE. The APEC estimates that the global market of PPEs will reach more than 60 billion USD in next five years.
Today, the largest buyers of PPE are Europe and US. India is now producing 8 lakh pieces of PPE per day from almost zero in March 2020. India is now the second largest producer of PPE in the world.
On an average a single mask manufacturing machine in India produces around 1 lakh pieces in a day. India currently holds more than 200 such machines.
India in due course would compete with Bangladesh, Pakistan and Indonesia when it comes to PPE industry. This is because, like India these countries have also lifted the ban on PPE export.
Month: Current Affairs - June, 2020
Category: India Nation & States Current Affairs