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12 MAY 2021 AL CIRCLE

AAI calls for immediate implementation of 5% RoDTEP for Indian Aluminium Industry to tackle COVID Crisis

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

The Aluminium Association of India (AAI) has requested the implementation of RoDTEP Scheme (Remission of Duties or Taxes on Export Products) for Indian Aluminium Industry on an immediate basis. The news came after senior officials of the ministries of Commerce & Industry and Finance & Corporate Affairs wrote a letter expressing the urgent need for at least 5 per cent remission rates for the Indian Aluminium Sector under RoDTEP Scheme to survive these challenging times.

AAI calls for immediate implementation of 5% RoDTEP for Indian Aluminium Industry

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The Aluminium Association of India also requested a separate budget allocation for the aluminium industry to realise the immense potential to double aluminium exports in the next 2-3 years.

AAI also asked the government to notify the actual remission rates as per actual sectoral data submitted to the RoDTEP Committee. The unusual delay in notifying the sector-wise remission rates is creating a high level of uncertainty for the Indian exporters as there is an ambiguity with the pricing of export goods, according to AAI.

AAI also said the high incidence of numerous unrebated Central and State taxes and duties impedes the growth potential of the aluminium sector in India. The various taxes constitute 15 per cent of the aluminium production cost, which is amongst the highest in the world.

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The Association even noted that this plight of the Indian aluminium exports is leading to a struggle to retain competitiveness in the international market as compared to the major exporting countries like China.


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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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