Govt in favour of aluminium import duty hike: Suresh Prabhu
6 years ago

Govt in favour of aluminium import duty hike: Suresh Prabhu

Live Mint  

New Delhi: The commerce ministry is in favour of hiking import duty on aluminium with a view to support domestic manufacturers, union minister Suresh Prabhu has said. The industry has demanded increase in import duties on aluminium scrap and primary aluminium amid a high growth in inward shipments of these items. They are demanding to raise the import duty on primary and scrap aluminium to 10%. Further talking about a proposal to cut export duty on iron ore, the commerce and industry minister said the ministry has sought views of steel and mines ministry on the issue.

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History of this topic

Govt should rationalise customs duty in budget to boost domestic manufacturing: Industry body
5 months, 4 weeks ago

Govt should rationalise customs duty in budget to boost domestic manufacturing: Industry body

New Indian Express  

New Delhi:The Indian Chamber of Commerce has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing. ICC President Ameya Prabhu said protective measures are needed for the growth of domestic industry in sectors including steel, solar battery, aluminum, and lithium cells. Huge potential is …

200% import duty on Pakistani products killed neighbour's economy
7 months, 3 weeks ago

200% import duty on Pakistani products killed neighbour's economy

Op India  

On 17th May, Pakistan’s Foreign Minister Ishaq Dar acknowledged that the trade ties with India went south after the Pulwama terrorist attack on 14th February 2019 in which India lost 40 brave soldiers. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect.” India has withdrawn MFN status to …

India to remove additional customs duties on eight US products
1 year, 6 months ago

India to remove additional customs duties on eight US products

India TV News  

India US trade: Following recent Prime Minister Narendra Modi's State visit, India has decided to remove additional duties on US products, including chickpeas, lentils, and apples. These duties were initially imposed in 2019 in response to the US increasing tariffs on specific steel and aluminium products, government sources said. India, US agree to end six trade disputes The two countries …

Aluminium firms raise duty anomaly
2 years ago

Aluminium firms raise duty anomaly

Live Mint  

The aluminium industry has urged the government to correct the inverted duty structure on critical raw materials in the upcoming budget to make domestic aluminium prices competitive and prevent dumping of the metal in the country. In its representation to the finance ministry, the association also wanted a hike in import duty on sub standard aluminium scrap to 10% from …

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise
2 years ago

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise

News 18  

The government is examining to hike customs duty on more than 35 items in the upcoming budget, which is scheduled to be announced on February 1, according to an Economic Times report. Meanwhile, the commerce ministry has also sought a reduction in the import duty on gold in the budget with a view to push exports and manufacturing of the …

Government announces customs duty cut on iron, steel inputs
2 years, 7 months ago

Government announces customs duty cut on iron, steel inputs

Live Mint  

Finance minister Nirmala Sitharaman said on Saturday that the government will rework customs duty on iron and steel and their raw materials to tame prices. “We are calibrating customs duty on raw materials and intermediaries for iron and steel to reduce their prices. The minister also said the government has decided to reduce customs duty on raw materials and intermediaries …

India Starts Probe Into Alleged Exports Subsidisation of Aluminium Item by Malaysia
4 years ago

India Starts Probe Into Alleged Exports Subsidisation of Aluminium Item by Malaysia

News 18  

India has initiated a probe into alleged exports subsidisation by Malaysia on an aluminium product, following a complaint by the domestic industry, according to a notification. The commerce ministry’s investigation arm Directorate General of Trade Remedies has started an anti-subsidy investigation to examine whether Malaysia’s subsidy programmes for exports of ‘aluminium primary foundry alloy ingot’ into India are impacting the …

More than 300 items may see customs duty hike in Budget
4 years, 11 months ago

More than 300 items may see customs duty hike in Budget

India TV News  

As a measure to boost domestic small and medium industry, the government may consider a hike in customs duty on over 300 items like toys, furniture, footwear, coated paper, rubber items among other in the Union Budget. On footwear and related products, the Ministry has suggested increase in duty to 35 per cent from the current 25 per cent while …

India has world’s “worst” tariffs on U.S. products, says top American Senator
5 years, 4 months ago

India has world’s “worst” tariffs on U.S. products, says top American Senator

The Hindu  

India is “the worst” in terms of high tariffs on American products, a top American Senator claimed on Sunday, ahead of U.S. President Donald Trump’s crucial meeting with Prime Minister Narendra Modi on the sidelines of the G-7 Summit in France which is likely to be dominated by trade frictions between the two countries. President Trump, championing his ‘America First’ …

Budget 2019: Aluminium producers seek import duty hike, reduction in raw material cost
5 years, 6 months ago

Budget 2019: Aluminium producers seek import duty hike, reduction in raw material cost

India Today  

Ahead of the budget, aluminium producers have sought steps from the government to hike import duty on primary aluminum, scrap and downstream products and rationalise costs of raw materials. In contrast, a lack of similar policy support pushed the aluminium industry to post highest ever aluminium import of 23 lakh tonnes in FY19, 58 per cent of India's demand, resulting …

After withdrawal of MFN status, basic customs duty on goods exported to India from Pakistan raised to 200%
5 years, 10 months ago

After withdrawal of MFN status, basic customs duty on goods exported to India from Pakistan raised to 200%

Op India  

The dastardly Pulwama attack India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect. With the customs duty hiked, as a response to the Pulwama attack, the financial state of Pakistan would take a hit. While the customs …

Govt hikes import duty on select communication items to up to 20% to check widening CAD
6 years, 3 months ago

Govt hikes import duty on select communication items to up to 20% to check widening CAD

Firstpost  

The CAD widened to 2.4 percent of the GDP in the first quarter of 2018-19. New Delhi: The government Thursday hiked the import duty on certain communication items, including base stations, to up to 20 percent as part of efforts to check a widening current account deficit by curbing imports. Import duty on populated, loaded or stuffed printed circuit boards …

Import duty hikes: Much ado about nothing
6 years, 3 months ago

Import duty hikes: Much ado about nothing

Live Mint  

How effective will be Wednesday’s import duty hikes on 19 supposedly non-essential items? Even as the government has included consumption- Reports say the current nominal import duty hikes will help the government raise revenue worth about Rs4,000 crore. Another casualty could be Havells India since it currently imports 70% of its subsidiary Lloyds’ requirement, although the company has the option …

Govt hikes import duties on 19 items; air conditioners, refrigerators, washing machines to get costlier from today
6 years, 3 months ago

Govt hikes import duties on 19 items; air conditioners, refrigerators, washing machines to get costlier from today

India TV News  

The government on Wednesday raised import duties on 19 items, including jet fuel, air conditioners and washing machines. The import duty on air conditioners, household refrigerators and washing machines doubled to 20 per cent. The basic customs duty on compressors, speakers and footwears raised to 10 per cent, 15 per cent and 25 per cent respectively. The duty on radial …

ACs, refrigerators, washing machines to get costlier, import duty hiked on over 19 items
6 years, 3 months ago

ACs, refrigerators, washing machines to get costlier, import duty hiked on over 19 items

Live Mint  

New Delhi: The government on Wednesday raised import duties on 19 non-essential items, including refrigerators, air conditioners, jewellery, diamonds and jet fuel, accounting for annual imports worth ₹ 86,000 crore, to arrest a widening current account deficit and a weakening rupee. The imposition of a 5% import duty on jet fuel is, however, unlikely to increase air fare as India …

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more
6 years, 3 months ago

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more

Hindustan Times  

The government Wednesday hiked customs duties on as many as 19 items, including jet fuel, ACs and refrigerators, effective midnight as it aims to curb imports of non-essential goods. Total import bill on account of shipment of these items into the country last fiscal was Rs 86,000 crore, the Finance Ministry said in a statement. “The central government has taken …

Government extends deadline for imposition of higher import duties on 29 US products, new rates to come to effect from September 18
6 years, 5 months ago

Government extends deadline for imposition of higher import duties on 29 US products, new rates to come to effect from September 18

India TV News  

The government on Saturday extended the deadline for imposition of higher customs duties on 29 products, including almond, walnut and pulses, imported from the US by 45 days. India has said the duty imposed by the US has affected steel exports by USD 198.6 million and aluminium shipments by USD 42.4 million. India has also dragged the US to the …

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