Process Plant and Machinery Association of India (PPMAI) wants government to abolish import duty on on stainless steel and special steels which are used by the manufacturers of Process Plant machineries.
Specifically, the industry demands removal of import duties on import of stainless steel hot rolled sheets, coils and cold rolled products.
The association seeks removal of duty because of the steep depreciation of rupee against the dollar and also because of the fact that some of the steel products are not manufactured domestically.
PPMAI argues that the government imposed anti dumping duties on imports originating from European Union, South Korea, Taiwan and USA and South Africa despite the fact that there are so many grades and forms which are presently not manufactured in India.
The association feels that imposition of duty is a disadvantage to the capital goods industry because it has to import products as per International quality which are not produced in India.
The capital goods industry manufactures equipments for critical segments of infrastructure and are end users of specific grades and sizes of stainless steel for catering to energy, oil and gas, desalination, nuclear energy, automotive, infrastructure projects and the petrochemicals industry. These companies export Process Plant machinery using the imported stainless steel and other products.
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