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2008-09
(Feb 14, 2008)
Cold Rolled Steel Manufacturers Association (CORSMA) presses the Finance Minister for a cut in customs duty on zinc as it is a basic component used in the manufacturing of galvanized sheets. It is widely used in the making of pipes serving the purpose of irrigation and water supply schemes. Along with this, it is also fulfills the necessity for the building up of roofing for the rural sections of society, battery cells, handicrafts and toys and utensils made by small scale industries.
The suggested alterations in the duty structure should be:
- Ease up imports of HR coils to minimize the space between demand and availability to maintain the industrial and economic growth
- Diminution of about Rs1,500 to Rs2,000 per MT in domestic rates of HR coils in order to offer some relief to industry/consumers
- India being a low cost producer where the current benefit margins range from Rs6,000 to over Rs10,000 per MT and will have contrary effect on domestic producers and it can also control the speculative investment in the industry
