NEW DELHI, Feb 3:
To safeguard the interests of domestic aluminium industry, the Government may soon take some steps including imposing of anti-dumping duties or minimum import price in wake of rising imports of downstream aluminium products in the country.
“Aluminium industry has faced a lot of stress in the last one year. I believe aluminium has huge potential in India. Our neighbouring countries are giving 13 per cent subsidy to downstream aluminium products and helping them to dump those in India,” Power, Coal and Mines Minister Piyush Goyal said today.
“I have had conversation with the aluminium industry. I found the imports of downstream products in India has gone up, which impacts both the primary manufacturers and the entire industry.
“So, if we can stop the indiscriminate (dump) imports of downstream products then we would be able to give leg up to all small and medium enterprises involved in downstream industry, which will give resurgent to entire sector,” he said this at an industry event here.
An industry expert said, “The import duty on the aluminium downstream products like food packaging foil, alloy wheel, is about 7.5 per cent which is much lower than levies of 12-15 per cent in other countries.”
He further said, “In the present scenario, it is difficult to crack or match with their cost of products as these countries give a lot of subsidies to their manufacturers including on transport and power.”
The minister said, “When we have large economies (like the US) who focus on protecting their own businesses, think it is time, India also respects the fact that Indian businesses, entrepreneurs and innovators have the ability to meet the needs of growing India.”
Further, he said, “Sadly over the past 15-20 years…I think this is the cost of economic liberalisation and so called globalisation, which has cost India some of its competitive edge in the face of dumping which we need to set this right.” (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel