The Economic Times
FICCI urges increase in basic customs duty on aluminium goods to 10% in Budget 2013
Edited by : AL CIRCLE
1 min read
Federation of Indian Chambers of Commerce and Industry (FICCI) is rooting for an increase in the basic customs duty (BCD) on aluminium products from existing 5 per cent to 10 per cent in Budget 2013.
FICCI argues that the steep surge in imports of aluminium products in India is having an adverse impact on the domestic industry. Industry representatives have expressed grave concerns as they reel under the burden of increasing cost pressures. This has been further exacerbated by plummeting realisations.
Adding to the industry's woes, imports are rising at a time when the domestic industry has been putting up huge investment projects across the country. The industry body feels that there is an urgent need to strike a balance between domestic industry trade and imports.
FICCI argues that the steep surge in imports of aluminium products in India is having an adverse impact on the domestic industry. Industry representatives have expressed grave concerns as they reel under the burden of increasing cost pressures. This has been further exacerbated by plummeting realisations.
Adding to the industry's woes, imports are rising at a time when the domestic industry has been putting up huge investment projects across the country. The industry body feels that there is an urgent need to strike a balance between domestic industry trade and imports.
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