25 APRIL 2016moneycontrol.com
Govt of India may recommend provisional safeguard duty on aluminium
Edited by : AL CIRCLE
1 min read
Just as provisional safeguard duty was imposed on the import of steel last year, the Government of India is likely to recommend the same for aluminium import as well, reports .
Indian aluminium giants like Hindalco, NALCO, BALCO and Vedanta have complained about the incessant dumping from China and Middle East. FY15 saw a rise in imports of the metal to 56 per cent.
The government had hiked the import duty from 5 per cent to 7.5 per cent in the budget. But the local aluminium companies feel it isn't enough and have asked for a 20 per cent import duty. But the government hasn't given any details on how much relief will be provided to these companies as of yet.
Indian aluminium giants like Hindalco, NALCO, BALCO and Vedanta have complained about the incessant dumping from China and Middle East. FY15 saw a rise in imports of the metal to 56 per cent.
The government had hiked the import duty from 5 per cent to 7.5 per cent in the budget. But the local aluminium companies feel it isn't enough and have asked for a 20 per cent import duty. But the government hasn't given any details on how much relief will be provided to these companies as of yet.
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