AAI emphasises its demand for 7.5% import duty on aluminium scrap ahead of Union Budget 2024

AL Circle

Ahead of the Union Budget 2024, Indian aluminium producers have sought an increase in the import duty on aluminium scrap to 7.5 per cent from the present 2.5 per cent.

AAI emphasises its demand for 7.5% import duty on aluminium scrap ahead of Union Budget 2024

{alcircleadd}

In addition, they have also asked to maintain the import duty on primary aluminium at the current rate of 7.5 per cent or a marginal rise to 10 per cent.

These urges are to curb the excessive inflow of substandard aluminium products and protect the domestic industry, which provides livelihoods to more than 10 lakh people.

This news came on Tuesday, July 16, after the Aluminium Association of India (AAI) asked the government to control aluminium scrap imports by increasing duties to 7.5 per cent, akin to those on primary aluminium.

AAI is also advocating for the maintenance of the duty on primary aluminium imports, including downstream products, at the current rate of 7.5 per cent or a slight increase to 10 per cent. This is crucial to implement more stringent action against the influx of cheap imports.

AAI rightly pointed out that despite adequate aluminium production in India, primary aluminium imports to the country are rising incessantly, registering 30 per cent rise year-on-year, driven by imports from China and free trade agreements with ASEAN and the Middle East countries. As a result, micro, small, and medium enterprises in downstream production are suffering.

AAI asserted, "Imports fulfilled 55 per cent of the country's aluminium demand in FY24, while the share of domestic producers plummeted from 60 per cent in FY11 to 45 per cent in FY24. Alarmingly, low-quality foreign scrap, which poses safety and environmental risks, has spiralled upwards from 472 kt (kilo tonnes) in FY11 to 1,768 kt in FY24, which is a whopping increase of 274 per cent."

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Stay updated on the latest sustainable developments in the ALuminium industry.
Subscribe to our bi-monthly Sustainability Newsletter.

Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals.

Alternate Text
XIAN HUAN-TAI TECHNOLOGY

Your reliable partner in aluminum casthouse equipment and products

Alternate Text
Fioscope

Fioscope provide air-cooled camera technology for high temperature applications

Related
Business Leads
We have requirement for aluminium ubc scrap. Destination : ...
28 Nov 2024 Buying request

We are interested in purchasing aluminium ubc scrap of 25 Kg...
24 Nov 2024 Buying request

We need aluminium extrusion 6063 scrap. Destination : India...
24 Nov 2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads