Miffed at import surge, aluminium firms want products in RCEP negative list

Inward Aluminium shipments peaked at 2.3 million tonnes in FY19, resulting in forex outgo of $5.5 bn, or 1.1% of country's total imports

Unnerved by the deluge of imports, the Indian aluminium makers have pushed for including critical products, including aluminium, in the negative list of imports under Regional Comprehensive Economic Partnership (RCEP).

Imports of aluminium and its finished products scaled an all-time high of 2.3 million tonnes in FY2019, resulting in a forex outgo of $5.5 billion (or Rs 40,000 crore), representing 1.1 per cent of the country's total imports. While total aluminium imports increased 19 per cent, scrap imports soared 21 per cent. The unabated stream of imports has eroded the domestic aluminium players' market share from 60 per cent in