An Analysis of the Import Management System (IMS) 2023 in India: Impacts and Implications

Author(s)	Mrs. Swathi Nayak
Country	India
Abstract	The Import Management System (IMS) 2023 in India was introduced to enhance the efficiency and transparency of import processes, reduce reliance on foreign suppliers, and promote domestic manufacturing. This study evaluates the impact of IMS 2023 by analyzing secondary data from government reports, industry analyses, and academic sources. The findings indicate significant improvements in processing times and regulatory compliance, although challenges such as unclear guidelines and the readiness of domestic industries persist. Sector-specific impacts vary, with industries like IT hardware and pharmaceuticals experiencing notable changes. The study highlights the need for continuous stakeholder engagement and iterative policy adjustments to maximize the benefits of IMS 2023. Recommendations for future research and policy improvements are also discussed.
Keywords	Import Management System, IMS 2023, Trade Policies, Import Regulations, Indian Economy, Domestic Manufacturing, Customs Clearance, Regulatory Compliance, Trade Efficiency
Field	Sociology > Economics
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-11-05
Cite This	An Analysis of the Import Management System (IMS) 2023 in India: Impacts and Implications - Mrs. Swathi Nayak - IJFMR Volume 6, Issue 6, November-December 2024.

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