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IRMA seeks duty removal on refractory raw materials magnesia, alumina

Press Trust of India  |  New Delhi 

Industry body Indian Makers Association (IRMA) has urged the government to remove duty on raw like magnesia and alumina required for manufacturing refractories.

A is an equipment which can handle the high-temperature required for making hot steel; and magnesia and alumina are the key raw required to produce it.

At present, the duty on magnesia is 5 per cent and on alumina 10 per cent.

The scarce availability of these raw is forcing the industry to import from other countries, which is raising input costs, Sameer Nagpal, Head Advocacy, IRMA said.

Under the new policy, the government has set up a target of ramping up its making capacity to 300 million tonnes (MT) by the 2030-31.

"is one of the key equipment used in making. Not just steel, refractories are also used by glass makers, aluminum, and all these industries are growing in But raw materials availability to make one of the key equipment remains an issue," he said.

Import of raw materials like alumina and magnesia from increases the input cost, Nagpal said.

He further said that minerals used to make refractory are also available in and the government can explore the areas and auction the mines to the players. This will reduce the dependence on imports and reduce the input cost as well, Nagpal said.

"We are trying our best to produce refractories of global standards in and have potential to cater to the needs of steel and aluminium industries. Recently, joined hands with to develop to cater to the needs of domestic steel industry," he said.

This will help Indian refractory makers to catch up with the global players and reduce dependence on imports, he added.

The domestic refractory industry recognises that requires positive ecosystem to step up its production capabilities in view of the new steel policy, Nagpal said.

IRMA is the apex body of refractory makers engaged in promoting use of domestically manufactured refractory. The body represents more than 90 refractory companies operating in India and over the years has become a credible voice of refractory industry in India.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, November 04 2018. 16:50 IST