Indian Chamber of Commerce demands reduction in excise duty

Indian Chamber of Commerce demands reduction in excise duty

India's Chamber of Commerce and Industry demanded that the government reduce the excise duty on iron and steel to 8 percent from the current 16 percent. The Chamber indicated that the reduction in the excise duty would enable the industry to become globally competitive. As previously reported by SteelOrbis, the excise duty was lowered to 8 percent in February 2004; however, it was again increased to 16 per cent in March 2005. The Chamber has also demanded that the government take certain measures to protect the cast iron pipe industry.