Indian industry seeks import ban on capital goods for building steel mills

Wednesday, 18 July 2018 16:52:31 (GMT+3)   |   Kolkata
       

Indian manufacturers of capital goods for steel plants have sought a complete ban on imports of such goods for construction of new steel plants across the country, a government official said on Wednesday, July 18.

The official said that the Process Plant and Machinery Association of India (PPMAI), the representative body of domestic capital goods manufacturers, in a written representation to the Ministry of Steel, Ministry of Commerce and Ministry of Heavy Industries has sought that the government draw up a list of all capital goods and equipment required for steel plants and not available through local sourcing.

Barring all such goods in the list means that the government will ban imports of such capital goods and equipment, new or second-hand, from countries with which India has signed Free Trade Agreements (FTAs) or part of Comprehensive Economic Partnership Agreements (CEPAs), the official said.

The domestic industry has pointed out that the Ministry of Commerce recently sought a reduction in import duties on certain capital goods and equipment for steel plants from South Korea and that such concessional imports will make domestic manufacturers uncompetitive, the official said.

The PPMAI in its communication has demanded that all new steel plants to be constructed in the country up to 2030 should mandatorily order all plants and equipment, including plant shed fabrication, from the domestic industry, unless the proposed investors in the steel mills can establish that such capital goods are not available in the domestic market, the official added.


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