Budget 2016: Hike in customs duty will help check imports, says Nalco CMD

KOLKATA: Tapan Kumar Chand, CMD of National Aluminium Company Limited (Nalco) the increase in basic customs duty (BCD) on primary aluminium from 5 % to 7.5 % and on aluminium products from 7.5% per cent to 10% will help Indian aluminium industry by checking influx of cheap imports.

However, he added that the aluminium industry was expecting a 5% increase in BCD. Chand was speaking soon after being unanimously elected as President of Aluminium Association of India (AAI) in its National Governing Council Meeting, held in Bhubaneswar on Monday. AAI is the apex body representing the entire spectrum of Indian aluminium industry and is a part of world association.

The AAI announced that the next International Conference on Aluminium (INCAL) shall be organized in Bhubaneswar, wherein all overseas associations will take part. The theme of the event will be ‘Make in India: Aluminium the Strategic Metal’.