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PHDCCI for removing customs duty on copper concentrate in Budget

PHDCCI on Friday said it has suggested to the government to remove customs duty on copper concentrate as the move would encourage domestic companies to manufacture value added products in India

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Customs duty | Finance Ministry | Budget 2022

Press Trust of India  |  New Delhi 

PHDCCI for removing customs duty on copper concentrate in Budget

Industry chamber PHDCCI on Friday said it has suggested to the government to remove on copper concentrate as the move would encourage domestic companies to manufacture value added products in India, instead of importing the same under free trade pacts.

The on copper concentrate is at 2.5 per cent.

It also pitched for increasing the basic custom duty on copper cathodes on refined copper products from 5 per cent to 7.5 per cent.

"In order to protect India from being a dumping ground of metal scrap, it's important to make stricter operating norms for the scrap recyclers, so as to abide by an environmentally friendly process," it added.

These suggestions were made by the chamber as part of its pre-Budget recommendations.

Further, the chamber suggested imposition of 10 per cent standard on import of paper and paperboards from ASEAN, South Korea and China.

It said these products should be kept in the negative list while reviewing the existing free trade agreements (FTAs) and formulating new pacts.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, January 14 2022. 19:21 IST
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