Monitor, streamline steel imports: Assocham
Industry chamber Assocham sought close monitoring of dumping of steel products and streamlining of the system by which industry can import goods duty free against export obligation.
By PTI |
NEW DELHI: Industry chamber Assocham sought close monitoring of dumping of steel products and streamlining of the system by which industry can import goods duty free against export obligation.
"Government should immediately put in place an import surveillance mechanism system to monitor every parcel of steel imports and streamline steel imports under advance authroisation to safeguard interest of the domestic industry," Assocham said in a statement.
The industry body also cautioned the government not to let the Indian market become a "global steel dump yard" for cheap and substandard quality of products.
In a memorandum to the commerce ministry, Assocham said the present customs duty of five per cent could encourage duty free arrivals of steel items under the 'Advanced Authorisation', and would thereby help the industry suffering from a demand and price slump.
At present, steel imports under the advance authorisation scheme permits the duty-free arrivals of inputs against exports of goods manufactured at home, it said.
"In the scheme, minimum value-addition norms are silent except that it should be positive as compared to the value of imported input goods," it said, adding the authorisation is valid for 24 months, which can be extended by up to 6 months.
The steel imported under advance authorisat
"Government should immediately put in place an import surveillance mechanism system to monitor every parcel of steel imports and streamline steel imports under advance authroisation to safeguard interest of the domestic industry," Assocham said in a statement.
The industry body also cautioned the government not to let the Indian market become a "global steel dump yard" for cheap and substandard quality of products.
In a memorandum to the commerce ministry, Assocham said the present customs duty of five per cent could encourage duty free arrivals of steel items under the 'Advanced Authorisation', and would thereby help the industry suffering from a demand and price slump.
At present, steel imports under the advance authorisation scheme permits the duty-free arrivals of inputs against exports of goods manufactured at home, it said.
"In the scheme, minimum value-addition norms are silent except that it should be positive as compared to the value of imported input goods," it said, adding the authorisation is valid for 24 months, which can be extended by up to 6 months.
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The steel imported under advance authorisat
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