As per news Union Finance Minister Nirmala Sitharaman Wednesday said the Union Cabinet had approved an ordinance banning production, import, distribution and sale of electronic cigarettes. This decision to ban e-cigarettes was taken as they were a health risk to the youth.
“The Union Cabinet has given the approval to ban e-cigarettes. It means the production, manufacturing, import/export, transport, sale, distribution, storage and advertising related to e-cigarettes are banned,” Sitharaman said at a press conference in New Delhi.
Following the announcement, stocks of cigarette makers ITC Ltd and Godfrey Phillips India Ltd ended higher by 0.9% and 5.3%, respectively. India has 106 million adult smokers, second only to China in the world, making it a lucrative market for firms making e-cigarettes such as Juul and Philip Morris, Reuters reported.