Import of refractories surges 40% to 25.29 billion on lack of raw material

Refractory industry Saturday said import has jumped sharply by 40 per cent to Rs 25.29 billion in 2017-18 against that of Rs 18.04 billion registered in FY'17.

Lack of raw material is one of the major cause for rise in imports, Indian Refractory Makers Association (IRMA) chairman Hakimuddin Ali said at the AGM.

"The domestic refractory makers has to import raw materials. Even finished refractory products are being imported as at times import is cheaper than manufacturing in India," Ali said.

"We are urging the government to look into the problems of duty structure on raw material and finished refractories," he said.

The IRMA also requested the government to take steps to push refractories grade bauxite and manganese to save the Rs 65 billion industry.

Cost pressure of raw material of the industry is also a major problem as it has gone up by 25-40 per cent in the last one and half years.

The steel sector is the major consumer of refractories and as it consumes 75 per cent of their production.