India’s Jindal Stainless Limited (JSL) is seeking the scrapping of import duty on molybdenum ore and the continuation of zero rate of duty on nickel, ferroalloys, stainless steel scrap and mild steel scrap in the national budget for 2025-26 to be placed before India’s parliament next month, the company said in a statement on Tuesday, January 28.
Molybdenum is used in alloys like ultra-strong steel which are resistant to corrosion and wear, and currently attracts a five percent customs duty.
“We recommend reducing import duties to zero on critical raw materials unavailable in India, such as molybdenum ore, and continuing with zero duties on pure nickel, ferronickel, stainless steel scrap, and mild steel scrap,” JSL managing director Abhyuday Jindal said in the statement.
Securing access to key raw materials is another pressing need, he said.
“To safeguard the domestic industry from the distortion caused by low-priced imports, we urge the government to raise the basic customs duty on stainless steel products to 15 percent for all non-free trade agreement countries. These steps will further strengthen the domestic stainless steel sector,” he said.
