Aluminum Manufacturer Seek Import Responsibility Hike Along Of Budget

Invest Plan 2019: Ahead of the Budget, Scrap and downstream product and rationalize the cost of raw materials.

Industry Business Bodies like the metal Association of India (AAI) and FICCI have au fait the govt that the metal sector of the country goes through a difficult section and is beneath Brobdingnagian threat by rising imports, declining domestic market share, rising production and provision prices.

Noting that Aluminum Importance is next thereto of steel, however, policy measures area unit being developed and introduced to shield the domestic industry within the last 3 years, he said.

The metal business continues to suffer thanks to the shortage of such measures, same Sharma, additionally a vigorous member of the AAI.

The government support has resulted in an exceeding drop of steel imports by 21% in the last 3 years, he said.

In distinction, a scarcity of comparable policy support pushed the metal business to post highest ever metal import of 23 Lakh tonnes in FY19, f58% of India's demand.

In the current circumstances, Indian metal business needs the govt to increase policy measures in line with what has been extended to the industry, he said.

Restrictive measures by China, USA et al. to shield their native markets from imports area unit creating India additional vulnerable as a merchandising ground for primary metal, scrap and secondary product, adversely moving the fight of the domestic business, he said.

"Hence, immediate measures like an accumulated tariff on primary Al, scrap and downstream metal product area unit needed beside rationalization of input prices of important stuff of metal price chain to assist the domestic business to retain fight, Sharma same.