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India’s Aluminium Firms Sulk Over Preferential Treatment To Steel
India’s Aluminium Firms Sulk Over Preferential Treatment To Steel
India’s aluminium industry has voiced its discontent over the preferential treatment meted out to steel makers. Mr Rahul Sharma vice-president, Aluminium Association of India said that “Over the years, government interventions have helped steel imports tumble by 21%. In addition to duty safeguards, the government has imposed MIP and anti-dumping duty. Today, the steel industry is in fairly good health – it is able to run business and pay debts. But on the other side, for the aluminium industry, there was zero intervention from the government. Steel is a core sector but aluminium is a strategic metal which plays a vital role for the country – Make in India, for security, electrification and other applications.”
Mr Sharma flagged concerns on unabated rise in scrap imports, especially with economic titans US and China waging a trade war. He added that “As a fallout of the trade war beginning with US imposing 10% duty and China retaliating with 25% duty (on scrap imports from US), India has turned into a favourite dumping ground for aluminium scrap. According to a report, India has dislodged China as the largest importer of aluminum scrap during the January-March period.”
Source : Strategic Research Institute, SteelGuru