MINIMUM IMPORT PRICE

Context: 

The Central Government of India has introduced the Minimum Import Price (MIP) for apples in Jammu and Kashmir (J&K) to protect the domestic industry from unfair competition and predatory pricing.

What is MIP?

MIP is a temporary measure implemented by a government to protect domestic industries from unfair competition and predatory pricing of imported goods. The MIP sets a minimum price below which the import of a particular commodity is not allowed.

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