The Indian Stainless Steel Development Association (ISSDA), representing domestic manufacturers of stainless steel, is seeking the removal of the five percent import duty on ferronickel.
In a letter to Indian Steel Secretary Pramod Kumar Rastogi, the ISSDA said the five percent duty imposed on ferronickel as part of the tariff on ferroalloys should be removed as the raw material in question was not produced in India.
"Ferronickel is central to stainless steel making. The raw material is not available in the country. To maintain a competitive scenario, it should be made available at nil duty," said president of ISSDA, N C Mathur, also director of India's largest stainless producer, JSL.
According to Mr. Mathur, India imports approximately 40,000 mt of ferronickel annually