CNBC-TV18: Aluminium Association of India writes to FM seeking import duty rationalisation

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As per the recent tweet of CNBC-TV18, the Aluminium Association of India writes to Finance Minister seeking import duty rationalisation; gives recommendations as part of Budget suggestions of the Aluminium sector.

ALUMINIUM ASSOCIATION OF INDIA WRITES TO FINANCE MINISTRY

  • Seeks hike in aluminium scrap import duty to 10% from current 2.5%
  • Seeks hike in import duty on downstream aluminium products to 10-12.5% from current 7.5-10%
  • Seeks reduction in import duty of raw material for aluminium to 2.5%
  • Raises concerns on high prices of critical raw material imports
  • Cost of production has increased b/w 25-30% in the last 3-5 years
  • 60% of India’s aluminium demand is being met through imports; India currently has a capacity of 4.1 MT

Source: https://twitter.com/CNBCTV18Live/status/1313772214651514882

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