CII favours short-term protection of steel industry
PTI A temporary protection of the Indian steel industry against cheap Chinese imports is acceptable but in the long run the country is capable enough of competing with its global peers, an industry body said today."If protection is temporary, it is acceptable. In the long term it (country) has to do away with the protections," CII president Naushad Forbes said here today in a media interaction.He was replying to a question on protection sought by the Indian steel industry against Chinese dumping. The Indian government has imposed protection in the form of safeguard duty and minimum import price.Forbes justified protective tariff for the steel industry in the 'short run' to make it competitive locally. However, he said protection results in consumers paying higher cost ...
FM assures global investors on policy stability, tax reforms
The Dollar Business Bureau Finance Minister’s 10-day US trip has opened its way for the long term investment in India. The buzz is that the investors in US are planning for long term investment, though there are concerns of Policy stability and reform process. A delegation of industry body CII (Confederation of Indian Industry) is also joining the Finance Minister. The delegation is led by its president- designate Naushad Forbes. Finance Minister has assured the global investors that the efforts are being made to reduce the concerns on the expediting tax reform process, tax regime and policy stability by the Indian Prime Minister Narendra Modi. Meanwhile, CII is organizing a number of events and meetings with investors, large US corporations, ...
