Parliament today passed a law to impose tighter control on export of sensitive dual-use technology and also enable the government to impose restrictions on import surge to protect domestic industry.
"The amendment bill will enable stricter regulation of export in technology, especially relating to dual-use items, which is necessary to instill a sense of confidence among the technology providers," Commerce and Industry Minister Anand Sharma said.
He was winding up the debate on the Foreign Trade (Development and Regulation) Amendment Bill which was later approved by the Lok Sabha by voice vote.
The bill, which also seeks to empower the government to impose quantitative restrictions on import to protect the interest of domestic industry, was approved by the Rajya Sabha earlier.
The bill also allows government to impose quantitative restrictions on agricultures, Sharma said, adding the Centre has deliberately kept duties on palmoline and pulses low to meet shortages in domestic market.
The 17 amendments in the original Act also provide for imposition of stringent punishment for those indulging in export violation in dual-use goods and technology which can be used in weapons of mass destruction (WMD) and its delivery systems, he added.
Dual technologies refer to highly strategically sensitive items which can also be used for making weapons or systems.
