Process Plant and Machinery Association of India objects to protection to steel sector

KOLKATA: Process Plant and Machinery Association of India (PPMAI), an apex body representing the country’s process plant manufacturers, has written to Prime Minister Narendra Modi objecting to “protection” being given to the steel sector. The move follows the government’s decision to impose a minimum import price (MIP) on steel last week.

The body, which includes Larsen & Toubro, Godrej, Thermax, Praj Industries, Toyo Engineering, ThyssenKrupp Industrial Solutions (India) and others, has expressed concern at the move being made without consulting the capital goods sector.

“India is in the process of globalizing its manufacturing base through establishment of capital equipment and downstream industries in micro, small and medium enterprises (MSME) to generate employment and boost Make in India vision through competitiveness of Indian products,” said PPMAI secretary VP Ramachandran. “However, this goal will be endangered if our industrial and trade policies are based on narrow perspectives of protection for one industry.”