ISA demands DEPB incentives on steel exports to be restored

ISA demands DEPB incentives on steel exports to be restored

Indian Steel Alliance (ISA), representing five major Indian hot rolled steel producers, has recently demanded government to restore Duty Entitlement Pass Book (ISA) incentives on steel exports as there is no shortage of steel in domestic market. As previously reported by SteelOrbis, Indian government lifted DEBP incentives on March 27, 2004 to hinder steel exports as availability was limited and to control prices. ISA, claiming that domestic steel mills produce a surplus of 3.5-4 million tons of flat steel products and 6 million tons of finished carbon steel each year and these volumes cannot be consumed in domestic market, stated that the government should immediately restore DEPB incentives. Moreover, ISA urged government to take certain measures to reduce cost of steel making.