JSW Steel Pitches for Zero Import Duty on Coking Coal
JSW Steels Joint MD & Group CFO Mr Seshagiri in an interview with CNBC-TV18 opined that “For metal sector, what we are looking in the budget is that
JSW Steels Joint MD & Group CFO Mr Seshagiri in an interview with CNBC-TV18 opined that “For metal sector, what we are looking in the budget is that whatever is available in India for steelmaking or for metal value addition should be preserved in India rather than allowing it to be exported. Also, whatever is not available in India like coking coal or limestone or any other refractories which we have to import from overseas, they are not available in India, wherever duties are applicable, if we have to compete with the countries where duties are negligible in those countries for import of those raw materials, these duties should be made to zero.
Mr Rao added “There are so many taxes which the Indian manufacturing sector has been paying to either local authorities or state governments. These taxes have to be imposed on imports, the government will get more revenue, that revenue can be used for reimbursing to exports then government is not at a loss and the Indian manufacturing industry’s competitiveness will go up.”.