New Delhi: The Aluminium Association of India (AAI) on Tuesday said that high duty on certain inputs for aluminium production should be rationalised or removed to boost the domestic industry's cost competitiveness. Representatives from the aluminium industry are seeking the government's intervention for supportive measures amid challenges posed by rising foreign imports and surging costs.
According to the association, calcined pet coke, which is a key input for the aluminium production, attracts high duty and that should be either rationalised or removed completely. "At present, nearly 20 percent of the cost of producing aluminium arises from government taxes and this is stifling the development of the aluminium sector, AAI, which represents the country's top aluminium producers," said in a statement.
AAI has made the suggestions ahead of the Union Budget for 2023-24, which will be presented in Parliament on February 1. The association also said that for the overall development of the domestic recycling landscape, it is crucial to prevent the dumping of low-quality foreign scrap in the country.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)