India’s AAI asks increase in customs tariff on aluminum scrap imports to 2.5%
Views : 123
Update time : 2023-11-07 15:55:11
The Aluminium Association of India (AAI) has asked the government to immediately raise the customs tariff on imported aluminum scrap from the current 2.5% to 10%, in order to protect the domestic aluminum industry from being impacted by the dumping of unchecked quality aluminum scrap.
The association said that the current low customs tariff of 2.5% has led to an increase of 24% in aluminum imports compared to the previous fiscal year, resulting in foreign exchange expenditures of up to US$7 billion.
Besides, the AAI has appealed for an increase in import duty on primary aluminum to 10%-15% to prevent unqualified products imported into the Indian market.
Also, the association has recommended reducing custom tariffs on crucial raw materials to 2.5% to enhance industrial competitiveness.
