Aluminum industry: Improving cost structure and how?
For this sector, PHDCCI urges to improve the cost structure of the Indian Aluminum industry and enhance competitiveness. In order to achieve this, it is suggested to reduce the basic customs duty on the following critical raw materials like Calcined Petroleum Coke (for anode making in the Aluminum industry), Raw Petroleum Coke (for anode making in the Aluminum industry), Caustic Soda Lye; Aluminum Fluoride and Green Anode/ Pre-Baked Carbon Anode all by 2.5 per cent.
For this sector, PHDCCI urges to improve the cost structure of the Indian Aluminum industry and enhance competitiveness. In order to achieve this, it is suggested to reduce the basic customs duty on the following critical raw materials like Calcined Petroleum Coke (for anode making in the Aluminum industry), Raw Petroleum Coke (for anode making in the Aluminum industry), Caustic Soda Lye; Aluminum Fluoride and Green Anode/ Pre-Baked Carbon Anode all by 2.5 per cent.
Additionally, elimination of cess on coal (GST Compensation cess of Rs.400/MT) to support high power-intensive industries like Aluminium and increase in basic customs duty on Aluminium scrap (HS Code 7602) at par with primary metal to proposed 10 per cent, are suggested.
PHDCCI also urges the inverted duty of Caustic Soda Lye to be rationalized and reduced from 7.5 per cent to 2.5 per cent. It also urges for the rationalisation and reduction of inverted duty on Aluminium Fluoride from 7.5 per cent to 2.5 per cent.
PHDCCI notes that being the primary raw material, the import duty on Alumina should be rationalized and reduced from 5 per cent to nil to enhance raw material security for Aluminium industry, encourage domestic value addition and exports of finished Aluminium products. Source: Reuters
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