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Government to introduce bill to stop unfair imports

The government will introduce a bill in parliament by next week to protect domestic industry from any surge in imports through unfair trade practices, Commerce and Industry Minister Murasoli Maran said on Thursday.

"It's a defence system against a surge in imports. It will be introduced next week," Maran told reporters on the sidelines of a trade conference.

The Foreign Trade Development and Regulation Amendment Bill aims to protect domestic industry and the agriculture sector.

A Commerce ministry official said the bill was not meant to be a shield for Indian companies against competition but a preventive measure against foreign firms using unfair trade practices.

The official, who did not wish to be identified, said the bill was compatible with World Trade Organisation (WTO) rules.

India will phase out quantitative restrictions on 714 items on April 1 in line with a WTO agreement.

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