Not enough ground to hike import duty on copper: Minister
The Dollar Business Bureau During April-August 2015, China supplied the largest chunk of 69,942 tonnes of copper to India The government will not raise the import duty on copper even though it is “keeping a close watch” on the inbound shipment of the metal, said Minister of State for Steel and Mines Vishnu Deo Sai. The minister, while responding to a query in the Lok Sabha on Monday, said that the country has exported refined copper worth $912 million between April and August this year and “import is not more than export” during the period. The statement came amid concern over rising import of the metal, especially from ASEAN countries that have free trade pacts with India. According to the ...
Copper producers want incentives back for boosting exports
The Dollar Business Bureau In a move to meet the global competency in copper industry, key producers of copper have joined together seeking incentivisation of duty on exports of refined copper. A public sector company Hindustan Copper and Hindalco Industries-a private sector copper producer, along with an MNC giant-Sesa Sterlite, have joined hands seeking restoration of 2% duty incentive on refined copper exports that was removed earlier this year, said the reports. The three copper producers’ forum- Indian Primary Copper Producers Association, was said to have reportedly submitted the representation to the Ministry of Commerce seeking the duty incentive on the refined copper exports, the reports added. According to the association, withdrawal of the duty incentive on copper exports, that ...
