01 JUNE 2015AlCircle.com
Indian aluminium producers ask for government intervention against “Chinese dumping”
Edited by : AL CIRCLE
1 min read
Indian aluminium companies have raised an alarm demanding quick action from the government to put a stop to “Chinese dumping” which is affecting their business adversely, industry leaders say.
Hindalco’s managing director D Bhattacharya says that since the Chinese GDP growth rate has slowed and has now become lower than India’s, there is little growth in the manufacturing sector. The aluminium sector however receives ample boost from their government in terms of subsidies and incentives.
If the Chinese economy does not pick up, and the overall manufacturing sector does not improve, they will continue to dump their highest produced commodity, aluminium, causing a serious impact on all manufacturers outside China.
Some countries have already imposed anti-dumping duties on imports from China, and producers urge that a similar move is needed to protect the domestic aluminium industry. Some regulations are being considered in the steel industry like in Budget 2016, it was declared that there might be an increase in import duty from 10% to 15% which will be applicable for finished and semi-finished steel. There needs to be similar steps taken for the aluminium industry as well.
Hindalco’s managing director D Bhattacharya says that since the Chinese GDP growth rate has slowed and has now become lower than India’s, there is little growth in the manufacturing sector. The aluminium sector however receives ample boost from their government in terms of subsidies and incentives.
If the Chinese economy does not pick up, and the overall manufacturing sector does not improve, they will continue to dump their highest produced commodity, aluminium, causing a serious impact on all manufacturers outside China.
Some countries have already imposed anti-dumping duties on imports from China, and producers urge that a similar move is needed to protect the domestic aluminium industry. Some regulations are being considered in the steel industry like in Budget 2016, it was declared that there might be an increase in import duty from 10% to 15% which will be applicable for finished and semi-finished steel. There needs to be similar steps taken for the aluminium industry as well.
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