Aluminium industry asks government to hike import duty
Updated: Sep 14, 2015 04:51:46pm
New Delhi, Sept 14 (KNN) Members of the aluminium industry called upon the government to raise duties on import of the metal to cut down on cheap imports.
An Aluminium Association of India delegation, led by Vedanta Group chief executive Tom Albanese, Hindalco deputy managing director D Satish Pai and Nalco chairman TK Chand, met Finance Minister Arun Jaitley here to him about the impact of cheaper imports on the domestic industry.
"We are here to present aluminium industry's case and the difficulty we are facing. Finance minister gave us a patient hearing. He is aware of our situation and we are quite sure that he will take the right decision," Pai told media here after the meeting.
The meeting was conducted just few days after the Directorate General of Safeguards recommended duty on flat steel product imports to relief the domestic industry.
According to the data released by the Aluminium Association of India, the total domestic capacity of 41 lakh tonnes per annum is currently operating at 50 percent capacity utilization that made the market share of domestic manufacturers to 44 percent in 2014-15 with imports nearly doubling to 15.63 lakh tonnes over 8.81 lakh tonnes in 2010-11. (KNN Bureau)
An Aluminium Association of India delegation, led by Vedanta Group chief executive Tom Albanese, Hindalco deputy managing director D Satish Pai and Nalco chairman TK Chand, met Finance Minister Arun Jaitley here to him about the impact of cheaper imports on the domestic industry.
"We are here to present aluminium industry's case and the difficulty we are facing. Finance minister gave us a patient hearing. He is aware of our situation and we are quite sure that he will take the right decision," Pai told media here after the meeting.
The meeting was conducted just few days after the Directorate General of Safeguards recommended duty on flat steel product imports to relief the domestic industry.
According to the data released by the Aluminium Association of India, the total domestic capacity of 41 lakh tonnes per annum is currently operating at 50 percent capacity utilization that made the market share of domestic manufacturers to 44 percent in 2014-15 with imports nearly doubling to 15.63 lakh tonnes over 8.81 lakh tonnes in 2010-11. (KNN Bureau)
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